Russian company wins Armenian Railway tender
By M. Alkhazashvili
(Translated by Diana Dundua)
(Translated by Diana Dundua)
Friday, January 18
Armenian officials announced on January 16 that Russian Railways JSC won the recent tender for management rights of Armenian Railways JSC. The Russian company was the only participant in the tender after Indian company RITES withdrew their bid. They will hold management rights for 30 years.
The Russian bid offered an investment of USD 570 million, with USD 230 million to be invested over the next five years, according to the news agency ITAR-TASS. Russian Railway JSC is also required to pay the Armenian government two percent of its profit.
Armenian Minister of Transport and Communication Andranik Manukyan said Russian investments would be greater if the border with Turkey is opened, and rail service to Armenia from Azerbaijan resumes.
The Russian bid offered an investment of USD 570 million, with USD 230 million to be invested over the next five years, according to the news agency ITAR-TASS. Russian Railway JSC is also required to pay the Armenian government two percent of its profit.
Armenian Minister of Transport and Communication Andranik Manukyan said Russian investments would be greater if the border with Turkey is opened, and rail service to Armenia from Azerbaijan resumes.