South Caucasian Railways summed up first quarter results

May 4, 2009 - 19:28 AMT
PanARMENIAN.Net - RA Prime Minister Tigran Sargsyan met with Transportation and Communication Minister Gurgen Sargsyan and "South Caucasian Railways" CJSC's General Director Shevket Shaydullin, SCR press service reports.



During the meeting, the parties discussed issues concerning railway communications development. The first quarter results and the major trends elaborated during SCR Directors' recent meeting were introduced to Mr. Shaydulin. The latter include the 2009 Investment Program, tariff policy, regional and social policy etc.



The parties also discussed plans for constructing the Vanadzor-Fioletovo railway in the frames of concessionary agreement aimed at restoring Armenia's railway infra-structure.



SCR CJSC is a 100% shareholder of "Russian Railways" OJSC. Armenian Railways CJSC was transferred to South Caucasian Railway's concessionary management under a concessionary agreement dated February 13, 2008. The agreement was signed for the term of 30 years, with possible extension of 10 years.
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