PARIS – Armenian Deputy Prime Minister Tigran Khachatryan and French Minister of Economy, Finance, Industry, and Digital Sovereignty Eric Lombard met in Paris on Thursday to explore new avenues for Armenian-French economic cooperation.
According to the Armenian government’s press service, the discussions focused on the potential involvement of the French government in financing the construction of a tunnel in Bargushat, located in southern Armenia, as part of the North-South interstate highway project. The project would engage leading French construction and engineering companies.
Khachatryan and Lombard also explored opportunities to enhance mutual trade and investment and strengthen business ties between the private sectors of both countries.
Emphasizing the successful track record of collaboration with French enterprises, Khachatryan underscored the importance of increasing the presence of French companies in Armenia. He highlighted the benefits of attracting new expertise and fostering a dynamic business culture.
Lombard reaffirmed France’s commitment to deepening economic relations with Armenia, assuring that the proposed projects would remain a priority for the French government. He pledged to take the necessary steps to ensure their successful implementation. The parties also agreed on future measures and formats for cooperation.
The estimated cost of constructing the southern section of the Sisian-Kajaran highway, part of the North-South transport corridor, is €452 million. The financing will come from a combination of loans from the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), and the Eurasian Fund for Stabilization and Development (EFSD), along with contributions from the Armenian government.
The project includes the construction of a new 60-kilometer section of road, designed to increase travel speeds from 50 km/h to 100 km/h. The highway will feature three-lane roads with asphalt concrete pavement, five tunnels (including one in the Bargushat area), 11 bridges, 68 fences, and 43 retaining walls. The project is scheduled for completion in November 2032.
