Thursday, November 7 2019 14:50
Alexandr Avanesov

Russian Railways: The RA Rail Management Concession Agreement may be  update

Russian Railways: The RA Rail Management Concession Agreement may be  update

ArmInfo. Oleg Belozerov, the Chief Executive Officer and Chairman of the Board of Russian Railways, has held a working meeting in Moscow with Suren Papikyan,  the Minister of Territorial Administration and Infrastructure of the  Republic of Armenia, the press service of Russian Railways reports.

Under discussion was the development of passenger and freight traffic  and, in particular, the renewal of Armenia's rolling stock.

As noted by the CEO of Russian Railways, the Company fulfills all its  obligations under the Concession Agreement.

During the 11 years of the concession, Russian Railways has invested  more than 120.1 billion Armenian drams of its own funds in the  country's railways, which is about $300 million at the weighted  average exchange rate.

"We have invested heavily and made real improvements in the industry.  Armenia's railway system is highly efficient and pays a decent level  of wages which is higher than the national average. We need to think  together about the algorithms for further development. Progress in  this direction is impossible without mutual understanding and support  from the Armenian state. We can only solve the problems facing us  together," said Oleg Belozorov.

The head of Russian Railways informed the Armenian side about the  Russian and foreign experience of state support for passenger  traffic. In Russia, for example, the federal government budget  provides about 37 billion roubles per annum to subsidise the costs of  the suburban commuter complex, while the government's decision to  reduce VAT to zero enabled the development of a long-term sustainable  model for suburban commuter rail.

As a result of the meeting, the parties agreed to establish a joint  working group to improve the activities of South Caucasus Railways  and within that framework to consider the possibility of updating the  Concession Agreement. 

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