On Mr. 26, during the sitting of Interparliamentary Collaboration Commission of RF Federal Assembly and RA National Assembly, SCR Director General Shevket Shaydulin suggested creation of a special group in charge of Armenian Railways transfer to South Caucasian Railway’s concessionary management, SCR Press Service reported.
Shevket Shaydullin stated that SCR positions itself not as an investor only, but also aims to increase long term affectivity and financial stability in SCR work, growth of transport production, integration into Eurasian transport and logistic system. ”Thus, it’s necessary to establish collaboration with state structures and create a special group to control compliance with the conditions,” Shevket Shaydullin noted.
Shevket Shaydullin briefed parliamentarians on primary conditions of Concessionary agreement, regarding company’s investment program, tariff policy, infrastructure restoration and railway vehicles.
SCR CJSC presented the financial model of the company for the period of 200-2012, receipts and expenditures budget for 2008-2009, planned introduction of basic assets in 2009.
Interparliamentary commission, headed by Nikolai Ryzhkov and Aram Safaryan expressed their readiness to assist in the fulfillment of Concessionary agreement, SCR Press Service reported.
South Caucasus Railways is an Armenia-based 100% branch of Russian railways public corporation. Armenian railways were transmitted into concessionary administration of South Caucasian railways in accordance with Feb. 13, 2008 concessionary agreement. The term of Concessionary agreement is 30 years with 20 years of prolongation right.
