The Armenian National Assembly is discussing the financial agreement
on the first stage of reconstructing the Yerevan subway, signed in
Yerevan on August 10, 2010, by Armenia and the European Investment
Bank, Tert.am reports.
Armenian Deputy Minister of Finances Vardan Aramyan said that 15
million euro will be provided for subway reconstruction. 5 million
were provided by the European Investment Bank, European Bank for
Reconstruction and Development and grants from European communities.
The funds will be spent on improving security in the subway,
renovating the carriages, railways, electric and pumping stations.
Realization of the reconstruction will allow the subway to operate for
30-40 years. The second stage of reconstruction will start in 2013, it
will include construction of a drainage system.
The deputy minister said that the ticket prices may rise. The subway
cannot cover all the expenses at a ticket price of 50 drams. The price
may rise by 100% in 2-3 years, reaching 100 drams.
Deputy of the Heritage Party Armen Martirosyan said called it "a new
money-washing mechanism for some functionaries".
