TOTAL INVESTMENTS OF SOUTH CAUCASUS RAILWAYS COMPANY TO REACH 5.2 BILLION RUBLES
Noyan Tapan
Oct 21, 2009
YEREVAN, OCTOBER 21, NOYAN TAPAN. Domestic cargo transportation volumes
of South Caucasus Railways company grew by 34% in January-September
2009 on the same period of 2008, whereas external cargo transportation
declined by 51%, Director General of the company Shevket Shaydullin
said at the October 21 press conference.
There was a growth in both domestic and external passenger traffic, by
35% and 43% respectively, in the indicated period, including a 2.5fold
increase in passenger traffic to Batumi. According to S. Shaydullin,
the budget-envisaged expenses were incurred by 94%. Of the total
amount of 3.3 billion Russian rubles for 2009, investments of 2bn
256m rubles were made in the first nine months. 70% of investments
was spent on improving the quality of services and infrastructure.
Repairs have already been completed at several stations of Armenia,
railway lines of 35 km have been restored. "Despite the global
economic crisis, there was no reduction of the staff at the company,
quite the opposite, the number of jobs grew by 700, with the average
salary reaching 116 thousand drams. The tariffs have not been raised
despite the increase in electricity prices," S. Shaydullin underlined.
He said the work to be done next year was discussed at the sitting
of the company’s board. It is envisaged that investments of South
Caucasus Railways will amount to 5.2 billion rubles in 2008-2010.