SKRIN Market & Corporate News
January 14, 2008 Monday 10:08 AM GMT

Russian Railways to participate in tender of Transport Ministry of
Armenia

Russian Railways is the only participant of a tender organized by the
Transport Ministry of Armenia for a 30-year concession of Armyansky
Railway in mid-Oct 2007. Russian Railways and Rail India
(RITES) passed the first stage of the tender. But Rail India
stepped down which is confirmed by advisor to Transport Minister of
Armenia Gayane Torozyan.

A concessioner will pay out a $10mln down payment and invest $170mln
in the upgrade of the company, repair and acquisition of rolling
stocks and the development of infrastructure.

RZD is planning to take part in the tender. Torozyan said that the
winner will be selected in January 2008, even if one bidder remains,
Vedomosti reported.