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
"We are particularly pleased by a 15 percent rise in lending to small and medium-sized businesses,” the bank’s financial director said.
It also signed 33 Reimbursable Advisory Service agreements with 11 countries in the region for a total amount of $45 million.
“Under a new deal to be signed, Russia is expected to provide a $300 million loan to extend the NPP’s service life,” Yervand Zakharyan said.
Etihad Airways’ Senior VP said the new flights catered for the significant and growing demand for travel between the UAE and Armenia.
Partner news