SCR investments to total ruble 540 mln in 2013

SCR investments to total ruble 540 mln in 2013

PanARMENIAN.Net - South Caucasus Railways (SCR) will reduce the volume of investments in the railway operation to ruble 540 mln in 2013 against ruble 1.15 billion in 2012, SCR CEO said.

“The company’s funds were aimed at reconstruction of the infrastructure and efficient operation of the railway in 2012,” Victor Rebets told Dec 21 press conference.

He noted that Gyumri’s locomotive depot and Zamalinsky bridge were reconstructed in the framework of the investment program, with the construction of two other brides completed.

Dwelling on the plans for 2013, Mr. Rebets said the main investments will be aimed at the reconstruction of roads, power supply and communication system, with part of the funds to target vehicle repair.

 Top stories
The PM said the impact of the agreement on ordinary consumers will be announced once relevant authorities consider the issue.
Azerbaijan is highly dependent on oil revenues and its preliminary 2016 budget indicates reductions in military spending, the report says.
Karen Chshmarityan stressed the importance of developing bilateral ties within the Eurasian Economic Union.
"It remains therefore ideally positioned to be the home base for a global financial institution such as HSBC," the bank said.
Partner news