RUSSIAN RAILWAYS TO SCALE UP ARMENIA’S RAILWAY COMMUNICATION WITH GEORGIA’S BLACK SEA PORTS
ARKA
June 4, 2008
YEREVAN, June 4. /ARKA/. The Russian Railways Company plans to develop
railway communication between Armenia and the black sea ports of
Georgia, Batumi and Poti, RIA Novosti reports.
On June 1, 2008, the South-Caucasian Railway launched official
activities under an agreement on concession of the Armenian Railways
Company. The south-Caucasian Railway plans to develop railway
communication in the Yerevan-Batumi and Yerevan-Poti directions in
the near future.
The company also plans the development of cooperation with Georgia,
Azerbaijan, Turkey, Ukraine and other countries.
Armenia and Russia signed a 30-year concession agreement, with the
right to a 20-year prolongation during the first 20 years.
Under the agreement, the Russian Railways Company plans to invest
$400mln in the Armenian railways, and $170mln more in the modernization
of the rolling stock.
The modernization program will primarily involve the principal routes
for transportation of 80% of cargoes.
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