Monday, January 22 2024 13:40

ArmInfo. At the first stage, the implementation of the Dry Port project will require investments in the amount of $45 million, of which $7.9 million from the government, $37.1 million from the operating company, Charle Malas, Advisor to Armenia's Minister of Economy told Armenia's Public TV. 

He said that a number of international reputable companies, as well  as a number of banks, including the World Bank, are interested in the  project. The operator of the "Dry Port" should be, according to the  expert, an experienced international company, whose partner will be  the Armenian government. "And this provides that the state will  receive income from the project. However, this is not the advantage  of the project. It is important that Armenia will become a transit,  transport, export, production hub," Malas noted.

The volume of FDI in the next 5 years in the Dry Port project will be  about $300-400 million, and several thousand jobs will be created at  different stages of the project - during construction and directly  during launch. According to preliminary calculations, the project  will provide 1% GDP growth.  

As noted within the project, the route will start from the railway in  India, then move towards the Iranian port of Chabahar, and passing  through the entire territory of Iran will reach the "Dry Port" in  Armenia, after which it will proceed to the Georgian port of "Poti".  The project will become more efficient with the operation of the  Tranche 4 road section of the North-South transport corridor, thanks  to which travel time for trucks in Syunik will be reduced by 40%.

"We expect that with the launch of the project the volume of cargo  transportation will increase. In particular, in 2046, according to  our estimates, 38 thousand containers will pass through the Dry Port,  and about 1 million tons of cargo will pass through the road alone,"  Malas said.

According to preliminary estimates, the Dry Port project can be  launched within 5-7 years.

On January 16, the Investment Committee of Armenia approved the  investment project for the construction of the Dry Port industrial  park in Gyumri. The park is planned to be built on the territory  adjacent to Shirak airport, which will border both the airport and  the railway and the North-South highway.

The Dry Port is envisaged as a multifunctional and multimodal hub to  serve those local and international companies that require an  operational procedure to consolidate customs processes, which can  help reduce the latter's operating costs.

The project was first announced by Armenian Minister of Economy Vahan  Kerobyan in the spring of 2021.