Russia-InfoCenter, Russia
Dec 6 2007
Russia to Obtain Concession on Armenian Railways
The Indian company Rail India Technical and Economic Services (RITES)
has decided to stop participating in the tender for obtaining a
concession on the Armenian company Armenian Railway. According to the
Minister of Transport and Communications of Armenia, Russia now
appears the only contender for obtaining a concession, and the tender
results will be announced in January 2008.
As it was reported before, in October 2007 Armenia announced a
tender on concessional management of the railway company for 30 years
with a right of prolonging the management for 20 more years.
The concessionaire will have to pay an initial deposit of $US10
million and invest $US170 million in infrastructure development and
modernization of the company’s trains.