YEREVAN, AUGUST 4, NOYAN TAPAN. On June 1, 2008, Armenian Railway CJSC (South Caucasian Railways) was passed to Russian Raiways CJSC for concession management for 30 years. Russian Railways assumed an obligation to invest about 174.5 billion drams in the system during this period, including 59.3 billion drams in the first five years. The company envisages to invest 8 billion drams for purchasing rolling stock, the RA minister of transport and communication Gurgen Sargsian said at the August 1 press conference. In his words, with the aim of developing intercity railway communication, the manager has already purchased 5 electric trains, which allows to reopen Gyumri-Pemzashen-Artik and Yerevan-Yeraskh regular routes from August 2 and Gyumri-Yerevan route from August 3. Yerevan-Tsovagyugh route has been operated from July 12. Besides, South Caucasian railways has signed an agreement with a Georgian company on repairs of 1,000 goods wagons and 23 electric trains. The minister said that tripartite negotiations (Armenia, Iran, Russia) on construction of Iran-Armenia railway are still continuing. The internartional financial orhanizations operating in Armenia also assess positively this step and are ready to co-finance the project.

---