CONCESSION AGREEMENT ON TRANSFER OF ‘ARMENIAN RAILWAY’ TO CONTROL OF ‘RUSSIAN RAILWAY’ OJSC TO BE SIGNED TOMORROW

arminfo
2008-02-12 11:21:00

ArmInfo. Signing of a concession agreement on transfer of the
"Armenian Railway" state CJSC to control of the "South-Caucasian
Railway", being 100% affiliated company of the "Russian Railways"
OJSC, will be held tomorrow, February 13, RA Ministry of Transport
and Communication told ArmInfo.

According to the source data, the agreement will be signed by President
of the "Russian Railway" OJSC Vladimir Yakunin and RA Minister of
Transport and Communication Andranik Manukyan. The document signing
will be followed by a press-conference. By the governmental decision,
the "Armenian Railway will be liquidated". The government charged
to relieve the ARW from credit commitments of the International
Development Association to the sum of $12,6 mln, signed with RA
government on July 7, 2000.

To recall, the draft concession agreement was approved by RA government
on February 7, 2008. Term of the concessionary control makes up 30
years with a right of prolongation for 20 years more after the first
20 years of work. On January 16, 2008, the "ARW" OJSC was announced
a winner of the tender on transfer of the Armenian Railway to the
concession control.