RUSSIAN RAILWAYS OJSC TO INVEST 1.2 BILLION RUBLES IN ARMENIA IN 2009

ArmInfo
2009-06-12 13:07:00

ArmInfo. Russian Railways (RR) OJSC will invest 1.2 billion rubles in
Armenia in 2009, Vladimir Yakunin, President of RR OJSC, told media
on Friday in Yerevan. The new facilities to be put into exploitation
in 2009 cost twice as much. The South-Caucasian Railway (SCR), which
is the 100% subsidiary of the Russian Railways, is the concessionaire
of the Armenian railroad system. The concession contract was made
for 30 years with 10-year extendable period.

‘We are not satisfied with last year’s result and hope to recompense
the retard this year’, he said. V. Yakunin highlighted the activity
of the SCR on introduction of new services. ‘I welcome the client-
oriented activity of the SCR. I am satisfied that that Armenian
industry supplies products not only to the SCR but also to the Russian
Railways. It is another example of mutually advantageous cooperation’,
Yakunin said.

After the visit to the Yerevan Central Station, RR President got
a first hand view of the 10 new ChME3 locomotives transferred by
the SCR. The total cost of the locomotives is 50 million rubles. The
aggregate investments of SCR in 2009 will total 2.7 billion rubles. The
investment program of the company for the 1Q of 2009 totaled 366
million rubles and 410 million in new fixed assets. The program was
entirely fulfilled.

From: Emil Lazarian | Ararat NewsPress