ArmInfo. Russian Railways consistently and fully fulfill their obligations under the concession agreement concluded with Armenia. This was reported to TASS by the CEO and Chairman of the Board of Russian Railways (RR), Oleg Belozerov.
According to him, thanks to the concession, Armenia received a modern railway system, and the republic's budget was relieved from expenses for its restoration and maintenance. Belozerov noted that JSC "South Caucasus Railway" has never paid dividends, and all profits were directed towards the development of the railway. He also stated that RR intends to continue complying with the terms of the railway concession with Armenia, and in case of changes to the conditions or termination of the concession, the company has the right to expect the return of invested funds. According to Belozerov, the "South Caucasus Railway" is one of the largest and most significant employers in Armenia.
He added that the total volume of investments made from the own revenues of RR and the South Caucasus Railway in 2008-2025 amounted to about 396.3 million dollars.
At the same time, the head of RR emphasized that the company was surprised and puzzled to learn from the press about the possible establishment of a fee for leasing railways in Armenia.
Earlier today, Pashinyan did not rule out the possibility of appealing to arbitration regarding the operation of the JSC "South Caucasus Railway," which is under RR concession. He added that the country's authorities had demanded nothing from the Russian side for 30 years, but now will demand 2 billion dollars per year for leasing Armenia's railways.
Recall that in February 2008, Armenia's railway infrastructure was transferred to concession management of the South Caucasus Railway for 30 years with the right to extend for another 10 years.
