SOUTH CAUCASUS RAILWAYS SLAMS ARMENIAN TRANSPORT MINISTER

PanARMENIAN.Net
19.03.2009 14:14 GMT+04:00

/PanARMENIAN.Net/ South Caucasus Railways Director General Shevket
Shaydullin criticized Armenian Transport Minister Gurgen Sargsyan for
his statements, which "undermine the company’s international image."

"Armenian Transport Minister Gurgen Sargsyan’s statement that the
company management has failed to fulfill some provisions of the
concession agreement and made 28% of presumed investments is untrue,"
Shaydullin said in an open letter.

"The SCR investments totaled 2.5 billion rubles of cash flow in
2008. The fixed capital stock amounted to 612 million rubles, what
comprises 61% of the concessionaire’s obligation."

Mr. Shaydullin said that a commission for monitoring of fulfillment of
concession agreement was formed early this year. "Three meetings have
been already held to work out measures to settle existing problems,"
he said.