The EBRD is considering supporting the Yerevan Metro Company with a third metro rehabilitation project. The project will comprise modernisation of rolling stock, renovation of the rolling stock maintenance depot, rehabilitation of the electrical sub-stations and power cables, ventilation systems, track maintenance as well as new escalators at the metro stations. The EBRD would provide a loan of up to EUR 7 million to the Republic of Armenia for the benefit of Yerevan Metro Company.
Yerevan City would sign a Project Support Agreement with the Bank. The European Investment Bank (EIB) is considering a parallel loan of EUR 7 million and the EBRD and EIB will seek an investment co-financing grant from an international donor of EUR 7 million to facilitate implementation of the project which will address urgently needed metro rehabilitation needs.
The total cost of the project is EUR 22.5 million.
Photo: www.yerevan.am
Share on:
