RAILWAYS TO PASS TO GOVERNMENT CONSENSUS

Panorama.am
19:06 30/08/2007

The passage of "Armenian Railways" to government consensus will
conclude in the beginning of January.

This was revealed today at a briefing by transport and communication
minister Andranik Manukyan. He added that a competition concerning the
transfer would take place this October, for which 45 organizations
have already applied. The minister chose not to reveal the names of
the organizations at this time.

We remind that on June 25 of this year the minister announced the
competition, saying not only local but international companies could
participate. France and Russia showed early interest.

We also remind that on October 12, 2006, the government allowed for
the transfer a 30-year time period, with a possible extension of
another 20 years.

In accordance to the details of the transaction, the chosen company
is obligated to invest 170 million dollars over the course of 10 years.