RUSSIAN RAILWAYS TO DELIVER EIGHT LOCOMOTIVES TO ARMENIA
ARKA
June 3, 2008
YEREVAN, June 3. /ARKA/. The Russian Railways Company is to deliver
eight electric locomotives to Armenia within the next two months,
RA Minister of Transport and Communications Gurgen Sargsyan told
reporters.
Under the concession agreement the Russian side is to make its initial
investments in passenger transportation, G. Sargsyan said.
He pointed out that the Armenian Railways Company was transferred to
the Russian Railways Company under a concession on June 1, 2008.
"Thus, from June 1, the South Caucasian Railway is in charge of the
traffic," the Minister said.
The South Caucasian Railway Company is fully owned by the Russian
Railways Company. It was founded to manage the Armenian Railways
Company.
On January 16, 2008, the Russian Railways Company won a tender
for concession of the Armenian Railways Company. Under a financial
offer announced late last year, the Russian company pledged to invest
$570mln in the Armenian Railways Company. A total of $230mln were to
be invested during the following five years.
The Armenian Railways Company is in charge of 805km out of 1,125km
railways.
Since 2001, the company has been operating with profit. Last year,
the company transported a total of 3mln tons of freights against
2.7mln tons in 2006.
From: Emil Lazarian | Ararat NewsPress
Disclaimer: This article was contributed and translated into English by Emil Lazarian. While we strive for quality, the views and accuracy of the content remain the responsibility of the contributor. Please verify all facts independently before reposting or citing.
Direct link to this article: https://www.armenianclub.com/2008/06/06/russian-railways-to-deliver-eight-locomotives-to-armenia/
