SOUTH CAUCASUS RAILWAY APPROVES INVESTMENT PROGRAM AND BUSINESS PLAN FOR 2015

by Alexandr Avanesov

Arminfo
Tuesday, December 16, 14:10

The Board of Directors of South Caucasus Railway CJSC met in Moscow on
Dec 12 under the presidency of CEO of Russian Railways OJCS Vladimir
Yakunin.

The press service of South Caucasus Railway reports that the Board
summed up the results of the company’s activities in 2014 and its
investment program and business plan for 2015.

The cargo traffic in 2015 is expected to grow by 0.9%, local passenger
traffic by 0.6%, international one by 0.1%. The profit is expected
to make up 151.9mln AMD.

In 2015 the company is planning to invest 6.5bln AMD mostly in
infrastructures (railways and electric power supply, alarm and
communication systems).

The workforce productivity is expected to grow by 3.3%, the average
monthly salary to 201,000 AMD.

The key goals for the next year are to improve services, to save
resources, to enhance safety, to automate accounting.

The company was complimented for registering profit in Q3 2014 despite
losses in the first half of the year.

It was also praised for effective work to save resources and to
manage personnel.

South Caucasus Railway CISC is 100% subsidiary of Russian Railways. It
has a 30 year concession to Armenian Railways.

From: Emil Lazarian | Ararat NewsPress