RZD WINS ARMENIAN RAILWAYS ADMINISTRATION TENDER
PanARMENIAN.Net
16.01.2008 18:37 GMT+04:00
/PanARMENIAN.Net/ The Russian Railways (RZD) has won the tender to
run the Armenian Railways during 30 years with a right of prolongation
for 20 more years.
Indian RITES has quitted the tender, thus making the RZD the only
participant.
The RZD is planning to invest $570 million, of which $230 million
will be invested during initial five years. The funds will be spent
on modernization, repair and purchase of carriages and infrastructure,
Lenta.ru reports.
The net profit of the Armenian Railways totaled $1 million in 2007.