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Russia to Obtain Concession on Armenian Railways
6.12.2007 14:50
Russia to Obtain Concession on Armenian Railways

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 companys trains.


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