PanARMENIAN.Net
Russian Railways only participant in tender for
Armenian Railways concession
07.12.2007 15:12 GMT+04:00
/PanARMENIAN.Net/ Russian Railways is the only participant in the
tender for Armenian Railways concession. The Russian company planning
a large-scale expansion in foreign states can obtain its first active
in absence of any rivals – India’s RITES recalled its application
December 6.
In October 2006, the Armenian government decreed on a 30-year
concession with a right to 20-year prolongation. The tender obliges
the concessionaire to pay a $10 mln contribution and invest $170 mln
in modernization of the railways, including reconstruction and
purchase of 1200 carriages and engines, RBK reports.
Armenian Railways is a state company owning the rolling stock and
railway infrastructure of the republic expending for over 900 km. The
actives were assessed at some $40 mln with $1,2 mln net profit.