ARMENIA’S RAILWAYS NETWORK TO BE MANAGED BY RUSSIAN RAILWAYS
Interfax News Agency
June 3 2008
Russia
Armenia’s railways network fell under the management of Russian
Railways beginning on June 1, 2008, Armenian Transport and
Communications Minister Gurgen Sarkisian told a press conference
on Tuesday.
All railway transportation in Armenia is now managed by the company
South-Caucasian Railways, which is a 100% subsidiary of OAO Russian
Railways, he said.
The concessionaire is required to invest some $600 million in the
modernization of the railways network and the infrastructure of
Armenia over the course of thirty years, said Sarkisian. Approximately
two-thirds of these funds will likely be invested over the course of
the next five years, he said.
Russian Railways will supply eight electric locomotives to Armenia
over the course of the next 1-2 months. In addition, Russia has
promised to invest first in the modernization of the cars that have
been standing idle for many years, said the minister.
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