THE GLOBAL CRISIS HAS NOT AFFECTED THE RAILWAY
Hasmik Dilanyan

"Radiolur"
25.02.2009 14:58

>From January 1, 2008, 30% of the "Armenian Railway" CJC was handed
over to the "Russian Railway" CJSC for concession management. The
"South Caucasian Railway" is an affiliate company of the "Russian
Railway." The latter has undertaken to invest 74.5 billion drams
in the sphere, 59.3 billion of which should be invested within the
coming five years.

Executive Director of the "South Caucasian Railway" Shevket Shaydulin
met with reporters today to speak about investments, turnover, and
the global economic crisis. He noted that the company’s activity
is targeted at raising the macroeconomic efficiency of the railway
transport of Armenia.

Shevket Shaydulin declared that the crisis has not affected their
activity.

Furthermore, they even offer discounts in this period. "We have already
succeeded to take a leading position in the corresponding market.

Furthermore, we compete with others. Only 10 thousand citizens used our
services in January 2008; the number has now reached 21 thousand. This
is a serious progress, which provides new opportunities for reinforcing
our positions."