STATE OF RAILWAYS IS PROBLEMATIC

Lragir, Armenia
Feb 7 2008

The government of Armenia has approved the draft concession agreement
the Russian Railways and the South-Caucasian Railways are going to
sign to transfer the Armenian railway network to the South-Caucasian
Railways. It happened during the meeting of government on February 7.

The minister of transport and communication Andranik Manukyan was
instructed to sign the concession on transferring the Armenian railway
network to the South Caucasian Railways. Prime Minister Serge Sargsyan
said the concession of the railways is an important decision which
stems from the interests of our nation. "The state of the railways
is problematic, investments are necessary. We have difficulty making
investments, and if we are unable to solve the problem of railways,
we cannot have the economy develop fast," Serge Sargsyan said in
connection with affirming the draft agreement.