Armenian Minister of Economy Gevorg Papoyan highlighted the realistic potential for the "Shirak Dry Port" project to evolve into a significant regional transport hub.
This transformation is contingent on the implementation of the government’s "Crossroads of Peace" program and the establishment of peace in the region, the minister stated during a year-end press conference in 2024.
The project has already undergone a feasibility study. According to Papoyan, the "Crossroads of the World" initiative is not merely a concept but a concrete action plan with clearly defined implementation stages.
"With the launch of the 'Crossroads of Peace' program and the achievement of peace, this project is entirely feasible. In such a scenario, the 'Shirak Dry Port' can truly become a significant regional transport hub," emphasized the minister.
A key component of the program is the complete construction and operationalization of the North-South Road Corridor, as well as the development of the railway network. Papoyan noted that a feasibility study has already outlined the specific steps necessary to bring the project to fruition.
The minister expressed confidence in the achievability of all planned initiatives, provided the successful implementation of the "Crossroads of Peace" program and the attainment of stability in the region.
BMG recalls that in January 2024, Armenia’s Investment Committee gave preliminary approval to the investment project for building an industrial park, "Shirak Dry Port," in Gyumri. It was reported that the government plans to invest $37 million in the project. The facility is set to be located near Shirak Airport and connected to the airport, railway, and the North-South highway.
The "Dry Port" is designed as a multifunctional and multimodal hub to serve local and international companies requiring streamlined customs processes, potentially reducing their operational costs. According to the project’s goals, the new industrial park in Gyumri is expected to contribute 3% to Armenia’s GDP.
