ArmInfo. The Armenian government, represented by its Investment Committee, has approved a $650 million investment package for the implementation of three major infrastructure projects in Yerevan, including the construction of the Ajapnyak metro station. Mayor Tigran announced this during a meeting of the Yerevan Council of Elders on June 6.
According to Avinyan, the package includes funding for the construction of the Ajapnyak metro station, the complete modernization of the Yerevan Metro infrastructure, the purchase of the final batch of electric buses, the renovation of two depots, the introduction of dedicated public transport lanes, and the implementation of a 250-hectare improvement project at Dalma Gardens.
Avinyan noted that the next project is the construction of the Ajapnyak metro station. He stated that the design documentation and cost estimates are already ready, and a final decision on the construction financing model remains to be made.
"Within the next one to two months, we should receive a final answer as to whether we will implement the project jointly with an international financial partner or switch to direct budget financing. The government and the Ministry of Finance have confirmed that they are ready to move forward without an international financial institution," he assured.
At the same time, according to the mayor, the speed of construction remains the main criterion in choosing the implementation model.
"Nothing is more valuable than time. We must begin implementing the project as quickly as possible, engaging internationally recognized contractors and engineers with experience in constructing similar projects," Avinyan emphasized.
He also announced that the metro modernization program includes replacing the tracks, addressing safety issues, upgrading key infrastructure, and purchasing 48 new train cars.
The cost of constructing the 11th station of the Yerevan Metro, Ajapnyak, is estimated at $287.4 million. The project has already received a positive assessment from the Armenian Ministry of Finance, and authorities are preparing to hold tenders to launch the practical phase of construction. While the cost was long estimated at around $50 million, the updated estimate reflects a comprehensive approach that includes the construction of the metro bridge, tunnel construction, and the creation of the necessary infrastructure.
The 2026 state budget includes initial tranches totaling 2 billion drams to begin the project. Active construction is scheduled to begin at the end of this year and will take four years.
