SCR IS READY TO DISCUSS PROPOSALS ON PARTICIPATION OF INTERNATIONAL BANKS AND ORGANIZATIONS IN IMPLEMENTATION OF ITS PROJECTS

ARKA
Feb 17, 2010

YEREVAN, February 17. /ARKA/. "South-Caucasian Railway" is ready
to discuss proposals of participation of international banks and
organizations in implementation of its projects, said Vahe Davtyan,
Head of Press Service of SCR during the meeting with TRACECA (Transport
Corridor Europe-Caucasus-Asia) representatives which took place on
February 11-14 in Istanbul.

SCR presented transformations of regional and international
geopolitical architecture, its strategic goals, investment policy
for 2010 and main indicators of activity during 2008-2009, as well as
priority projects which is implementing the company. Special attention
is paid to the construction project of international logistic center
in Armenian-Turkish border (station Akhuryan).

Davtyan introduced representatives of transport companies of TRACECA
participant-countries and business model of logistic center. The
latter will result in the establishment of affiliate with share
participation of interested party. SCR representative suggested the
foreign colleagues to visit Armenia with the aim of discussion of
its participation in the projects of the company.

"SCR formed its financial model till 2038 which evidences about
the stability of the company and healthy investment atmosphere. We
are open for cooperation and are ready to discuss any proposal
of participation of international banks, corporations and other
organizations in implementation of our projects", said V. Davtyan.

TRACECA is a rehabilitation program of Great Silk Way. TRACECA was
established on May 3, 1993 in Brussels Conference in which ministers
of transport and trade of 8 countries, 5 countries of Central Asia –
Kazakhstan, Kyrgyzstan, Turkmenistan and Uzbekistan and 3 Caucasian
countries – Armenia, Azerbaijan and Georgia participated.

During the Conference an agreement was signed on the introduction
of Technical Assistance Program funded by European Union for the
development of transport corridor West-East from Europe with
intersection of Black Sea through Caucasus and Caspian Sea to
Central Asia.

Concession management of "Armenian railway" is implemented by CJSC
"South Caucasian Railway" which is 100% affiliate of Open JSC "Russian
Railway". SCR accepted the railway stock of CJSC "Armenian railway"
on its balance from June 1, 2008 according to Concession Agreement
signed on February 13, 2008. The terms of concession management is
for 30 years with the right of prolongation for another 10 years.