Announcement

Collapse
No announcement yet.

Rolling Stock Of Armenian Railways On Balance Account Of South Cauca

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Rolling Stock Of Armenian Railways On Balance Account Of South Cauca

    ROLLING STOCK OF ARMENIAN RAILWAYS ON BALANCE ACCOUNT OF SOUTH CAUCASIAN RAILWAY

    ARKA
    June 2, 2008

    YEREVAN, June 2. /ARKA/. The South Caucasian Railway made a decision
    on June 1 to include the rolling stock of the Armenian Railway CJSC
    into its balance account under the concession signed on February
    13, 2008 on transferring the Armenian railway system to the South
    Caucasian Railway.

    The company has recruited its staff and has launched economic and
    industrial activities on carriage by rail, cargo transportation,
    as well as commercial and organizational activities of the Armenian
    Railway.

    At present, the Caucasian Railway is studying the infrastructure and
    is making feasibility analysis on the Armenian company.

    The objective of the South Caucasian Railway is to ensure uninterrupted
    operation of the Armenian railway system. To achieve this goal,
    the company must improve the local railway system.

    The purpose of the South Caucasian Railway is to reconstruct Armenia's
    railroad way, improve the rolling stock both of cargo and passenger
    railway transport, as well as to speed up railway transport, improve
    services and train the staff.

    The company also plans to develop Yerevan-Batumi and Yerevan-Poti
    railway communication.

    Included in the group of the Russian Railways, the South Caucasian
    Railway is to manage the Armenian Railway CJSC.

    The Armenian Railway manages 805km long railway lines and 1,125 km
    long railways in Armenia. The company has been bringing fixed income
    since 2001.

    The Armenian Railway transported 3mln tons of goods last year against
    2.7mln tons in 2006.

    On January 16, 2008, the Russian Railway won the bids on the Armenian
    Railway and now runs the company. The Russian Railway stated last
    year it plans to invest $570mln with $230mln being allotted in the
    coming five years.
Working...
X