ARMENIAN PRESIDENT AND HEAD OF "RUSSIAN RAILWAYS" DISCUSS PRESENT CONDITION OF ARMENIAN RAILWAYS AND PROSPECTS OF DEVELOPMENT

ARMENPRESS
June 12, 2009

YEREVAN, JUNE 12, ARMENPRESS: Armenian President Serzh Sargsyan
received today Vladimir Yakunin, the head of the "Russian Railways"
company which is the concession manager of Armenian railways.

Presidential Press office told Armenpress that stressing the
Armenian-Russian strategic relations the Armenian President
said: "We consider Russia to be our most reliable ally and give
a primary importance to the further development of bilateral
relations." According to the President, in this respect transport on
the whole and the railway transport in particular have a significant
role.

V. Yakunin conveyed Russian Prime Minister Vladimir Putin's best
regards to the President Sargsyan stressing that on the eve of his
visit to Armenia he met with V. Putin.

Head of the "Russian Railways" company expressed gratitude to the
Armenian President for right assessment of the importance of the
railroads for the economy of the state and keeping it under his
limelight.

V. Yakunin informed that he has visited an exhibition of products
intended for the needs of railway transport which was organized by the
leadership of South Caucasian railways and the Armenian businessmen.

According to the head of "Russian Railways" company the presented
products are already being used in the South Caucasian railways
as well as in Russia as the price/quality interrelation is quite
attractive. Besides that their main principle is to give preference
to the local producers in any undertakings.

The interlocutors discussed the present situation of Armenian railways,
development prospects as well as the process of implementation of
responsibilities assumed by the sides on the concession management
agreement.

They have particularly referred to the projects connected with the
modernization of the railways, reconstruction of wagons and railroads,
technical rearmament, increase of the speed of the trains as well
as conduction of cargo transportations through the most optimal way,
shortest time and on lowest expenditures.

Vladimir Yakunin said the works conducted during the latest period
on the whole satisfy him; serious steps have been undertaken towards
increasing of the management efficiency.

The Head of "Russian Railways" assured that the got investment
responsibilities will fully be conducted.