Armenian Railways officially turned over to RZD concessionFebruary 13, 2008 - 15:41 AMT PanARMENIAN.Net - Armenian Minister of Transport and Communications Andranik Manukyan, President of Russian Railways (RZD) Vladimir Yakunin and Director General of South Caucasus Railways signed a concession agreement in Yerevan today, IA Regnum reports. According to the agreement, the Russian Railways will pay $5 million; further annual payments will make 2 per cent of the local income. The RZD has shouldered responsibility for 749 km of the rail, 3 thousand freight and 50 passenger cars, 55 locomotives and 30 carriages as well as 4.2 thousand employees. The RZD intends to invest $170 million for re-equipment and $400 million in development of the Armenian rail net. South Caucasus Railways is an Armenia-based 100% branch of RZD public corporation. He RZD will stand guarantor of investments and will assign $57 as a guarantee. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Armenia border residents dissatisfied with delimitation Residents Kirants are dissatisfied with the results of the delimitation of the border between Armenia and Azerbaijan. “Great success”: Pashinyan pleased with new border protocol Pashinyan has described the signing by Armenia and Azerbaijan of a protocol on delimitation in Tavush as “a great success”. Armenia, Azerbaijan sign protocol on demarcation coordinates Armenia’s government took on May 15 another step towards handing over four border areas to Azerbaijan. Power of One Dram sums up two-year program with Teach for Armenia Idram Junior also joined the companies during the visit, bringing with it a fascinating intellectual game for children |