ARMENIAN TRANSPORT MINISTER: SOUTH CAUCASUS RAILWAY DOES NOT FULFILL ITS INVESTMENT PROGRAMME FOR 2008 ON UPGRADING OF ARMENIAN RAILWAY
ArmInfo
2009-03-17 11:49:00
ArmInfo. South Caucasus Railway, 100% subsidiary of OJSC ‘Russian
railways’, has not fulfill its investment programme for 2008 on
upgrading of Armenian railway.
As Armenian Transport and Communication Minister, Gurgen Sarkisyan,
told journalists today, statements of the former director general of
CJSC , Aleksandr Kuznetsov, about 100 mln dollars investments made in
2008, so not meet reality. Investigation of the report submitted to
Armenian Transport and Communication Ministry showed, that only 30%
of the investment volumes were fulfilled. the minister did not rule out
that the motors and apartments bought by the company were also involved
in the investment volumes. He recalled that at present these motors
are put up for sale. The new leadership of South Caucasus Railway have
agreed to requirement of the Armenian party to pay fully the programme
of 2008 along with the investment programme for 2009. This problem was
also iscussed over the last meeting of Armenian Prime Minister Tigran
Sarkisyan with his Russian counterpart Vladimir Putin. The latter
charged the relevant departments to fulfill the programme. In general,
the volume of investments for 2008 was 12 bln drams (about $40 mln),
and investment was made only at 3,5 bln drams. In 2009 the investment
volume for restoration of infrastructures should amount to 13,5 bln
drams and 0,5 bln drams for upgrading of the rolling equipment. But
the mentioned volumes of investment did not take into account the
20% devaluation of the Armenian currency happened on 3 March. , –
the minister said.
The minister recalled that SCRW exceeded the tariffs for cargo carriage
in 2008 by 30%, after which the tariffs for some kinds of cargo were
somewhat reduced. An agreement was reached with the new management
of the Company on non-increase of tariffs in 2009. Moreover, tariffs
for a number of strategically important goods will also be reduced.
"South Caucasus Railway" CJSC officially started its economic activity
on June 1, 2008, within the frames of the agreement on concession
management of the Armenian Railway. By this time, "SCRW" CJSC, a
100% subsidiary of "RRW" OJSC, received over 2,000 freight wagons
on a balance, 58 passenger cars, 85 locomotives and 30 sections of
electric trains. 4300 employees preserved their job. The concession
agreement was signed for 30 years with the right of prolongation for
another 20 years after the first 20 effective years.
Under the agreement, "RRW" OJSC assumes to invest $400 mln in
development of the infrastructure and additional $170 mln – in
upgrading of the rolling stock park.
From: Emil Lazarian | Ararat NewsPress