The Indian company Rail India Technical and Economic Services (RITES) has decided to stop participating in the tender for obtaining a concession on the Armenian company Armenian Railway. According to the Minister of Transport and Communications of Armenia, Russia now appears the only contender for obtaining a concession, and the tender results will be announced in January 2008.
      
      As it was reported before, in October 2007 Armenia announced a tender on concessional management of the railway company for 30 years with a right of prolonging the management for 20 more years.
      
      The concessionaire will have to pay an initial deposit of $US10 million and invest $US170 million in infrastructure development and modernization of the company’s trains.
      
      Source: www.rzd-partner.ru