SOUTH-CAUCASIAN RAILWAYS INTENDS TO INVEST RUR 2.8BLN IN ARMENIA IN 2009

ARKA
Feb 25, 2009

YEREVAN, February 25. /ARKA/. South-Caucasian Railways intends to
invest RUR 2.8bln in Armenia in 2009, Shevket Shaydullin, director
general of the company, said in Novosti International Press Center
on Wednesday.

This amount will exceed RUR 4.3 billion with development of basic
funds.

"It is balanced by the budget of the investment program", Shaydullin
said. "It should be said that 2009 is a very important year for
speeding up paces, restoring infrastructure and upgrade planning and
security-providing nature of our economy. It is very important to
improve quality of services up to the level out society, state and
consumer expect."

South-Caucasian Railways, a 100-percent subsidiary of Russian Railways,
runs Armenian Railway under the concession agreement signed on February
13, 2008.

The agreement implies 30-year administration with the right to prolong
it for 20 years.

From: Emil Lazarian | Ararat NewsPress