Armenian Railways officially turned over to RZD concession
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.
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.
