AGREEMENT SIGNED ON PASSING ARMENIAN RAILWAY FOR CONCESSION MANAGEMENT
Noyan Tapan
Feb 13, 2008
YEREVAN, FEBRUARY 13, NOYAN TAPAN. The RA minister of transport and
communication Andranik Manukian and the chairman of Russian Railways
CJSC Vladimir Yakunin on February 13 signed the agreement on passing
Armenian Railway company for concession management. According to
A. Manukian, South Caucasian Railway CJSC will operate Armenian
Railway.
V. Yakunin said that a sitting of the board of directors of
Russian Railways will be held soon in order to develop a business
plan. Priority will be given to repairs of infrastructures and purchase
of 3-4 electric locomotives with the aim of increasing intercity and
Kavkaz-Poti ferry transportation of goods.
To recap, Russian Railways is obliged to invest about 570 million
dollars in Armenian Railway within 30 years, including 230 million
dollars during the first five years.