"ARMENIAN RAILROADS" CLOSED PREVIOUS YEAR WITH LOSSES

Panorama.am
20:26 25/02/2009

In 2009 the investments to the Armenian railroads subdivision will
be 2,8 billion Russian rubles and more than 4,3 rubles to the main
funds, said the General Director of the "South Caucasus Railroads"
Company Shevket Shaidulin in a press conference.

The General Director says that the rate of transportation by the
"South Caucasus Railroads" has been significantly shortened but it
will not influence on the financing of the company. "We have defined
concession and we form the budget," he said.

Regarding the revenues and the expenses of the company, the General
Director says that the company has closed the previous year with
losses and most probably 2009 will be closed in losses also.