RZHD/ARMENIA SIGNED THE CONSESSION CONTRACT.
Analytical Information Agency
Feb 13 2008
Russia
RZHD and Armenia signed the concession contract on the provision of
the RZHD control over Armenia railways, as it was informed.
The contract covers 30 years with probable prolongation for 20 years.
The control should be provided by South Caucasus Railway set up as
RZHD sub in Armenia.
RZHD will pay $5mln as starting payment; the staff will be transferred
to the new company along with the rolling stock.
RZHD intends to invest $400mln in the project; $170mln being spent
for the rolling stock modernization.
RZHD was set up on the basis of the communications ministry in 2003.
100% are held by the state (85.5ths km of railways length in total).
The net profit in 2006 (RAS) rose to 26.3bn rub. or 2.7 fold higher
prior year figures – 9.7bn rub.
The 2007-net profit rose 3.1 fold to 84mln rub. from 26.3bn rub.
prior year; 9-month revenues being up 16.9% to 728.4bn rub.; gross
profit – 29.6% to 77.9bn rub.; pretax profit – 24.9% to 72.8bn
rub. from 58.3bn rub.
From: Emil Lazarian | Ararat NewsPress
