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RZD can invest RUB 15 billion in development of Armenian Railway

07.09.2013 15:40
Section: Investment

RZD can invest about RUB 15 billion in the development of the Armenian Railway, said Vladimir Putin, President of Russia, after his meeting with Serzh Sargsyan, President of Armenia.

In February 2008, RZD and Armenia signed a concession agreement about the transfer of the management of Armenian Railway CJSC to South Caucasus Railway (100% affiliate of RZD). The concession agreement, which can be extended, is 30 years.

Objectives of the South Caucasus Railway are the modernization of the infrastructure of Armenian Railway, the development of the cooperation with states adjacent to Armenia, and the development of domestic and international passenger and cargo transportation by rail in the Republic.

Translated by RZD-Partner.com

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