Armenian Railways To Be Placed Under Concession Management Of Russia

ARMENIAN RAILWAYS TO BE PLACED UNDER CONCESSION MANAGEMENT OF RUSSIAN RAILWAYS

SKRIN Market & Corporate News
April 28, 2008 Monday

On June 1, 2008, Armenian Railways (AZD) will be placed under
concession management of the Russian Railways (RZD) monopoly. The
Russian company has won the tender for the AZD concession and declared
its readiness to invest USD570mn in the Armenian company. Of that
sum, USD230mn is to be invested within the next five years. South
Caucasus Railway, a 100% subsidiary of RZD set up for this purpose,
will run Armenian Railways. AZD has 805 km (500 miles) of railway
lines, including 748 km (465 miles) of electrified lines. Its rolling
stock consists of 3000 freight and 50 passenger cars, 55 locomotives,
and 30 electric train units. Since 2001, AZD has been earning stable
profit. In 2007, it transported 3mn metric tons of cargo compared
with 2.7mn metric tons in 2006, the DARS Consulting information
agency reported.

From: Emil Lazarian | Ararat NewsPress

Emil Lazarian

“I should like to see any power of the world destroy this race, this small tribe of unimportant people, whose wars have all been fought and lost, whose structures have crumbled, literature is unread, music is unheard, and prayers are no more answered. Go ahead, destroy Armenia . See if you can do it. Send them into the desert without bread or water. Burn their homes and churches. Then see if they will not laugh, sing and pray again. For when two of them meet anywhere in the world, see if they will not create a New Armenia.” - WS