Ferry Traffic From Russia To Armenia Exceeds 30,000 Tons From From A

FERRY TRAFFIC FROM RUSSIA TO ARMENIA EXCEEDS 30,000 TONS FROM FROM AUG TO END OF 2007

ARKA News Agency
Jan 21 2008
Armenia

YEREVAN, January 21. /ARKA/. From August to the end of 2007, ferry
traffic from Russia to Armenia exceeded 30,000 tons, RF Minister
of Transport, Co-Chairman of the Armenian-Russian Intergovernmental
Commission for Economic Cooperation Igor Levitin stated in conclusion
of an Armenian-Russian business forum in Yerevan.

"This is evidence that goods in Armenia can be competitive on the
Russian market," he said. Levitin added that the resolution of
transport problems also resolves the problems of competitiveness of
Armenian goods.

The Minister pointed out the regular operation of the Poti-Caucasus
ferry train service is being organized, and up to 80% of cargoes will
be transported by this ferry service.

"The issue of load of the Russian ferry is being settled, but the
issue of its fukll load in Armenia remain open," Levitin said.

The Minister proposed the discussion of the possibility of loading
the ferry with Armenian cargoes with the Armenian business community.

On February 13, 2007, the RA Government and the Swiss Reserve
Capital Corporation, with Khakim Matchanov one of its owners, signed a
memorandum on ferry communication Poti-Caucasus. The carrying capacity
of the first ferry, Smat, owned by the Reserve Capital Enterpising
Corporation, is 50 freight cars.

Early in 2007, the Swiss Reserve Capital Corporation started the
construction of the second ferry Firus.