ARMENIAN RAILWAYS BECOME RUSSIAN FOR 30 YEARS
Russia-InfoCenter, Russia
Source: seanews.ru
Jan 16 2008
Russia has finally obtained concession on the company Armenian
Railways. While Armenia will remain the owner of Armenian Railways,
Russia will manage the company for a period of 30 years with a right
of prolonging for 20 more years after the first 20 years of management.
According to the conditions of the concession contract, Russian
Railways will make the initial payment of US$ 5 million to the
Armenian government; the annual payment to the government will be 2%
of the profit the company brings.
According to the preliminary investment plan, within 30 years of
management Russia is obliged to invest around US$ 400 million in
Armenian Railways infrastructure development.