RZD wins Armenian Railways administration tender
The Russian Railways (RZD) has won the tender to run the Armenian Railways during 30 years with a right of prolongation for 20 more years.
Indian RITES has quitted the tender, thus making the RZD the only participant.
The RZD is planning to invest $570 million, of which $230 million will be invested during initial five years. The funds will be spent on modernization, repair and purchase of carriages and infrastructure, Lenta.ru reports.
The net profit of the Armenian Railways totaled $1 million in 2007.
Indian RITES has quitted the tender, thus making the RZD the only participant.
The RZD is planning to invest $570 million, of which $230 million will be invested during initial five years. The funds will be spent on modernization, repair and purchase of carriages and infrastructure, Lenta.ru reports.
The net profit of the Armenian Railways totaled $1 million in 2007.
