Armenia’s south railway project may attract investors

Armenia’s south railway project may attract investors

YEREVAN, May 13. / ARKA /. Armenia’s deputy transport and communications minister Artur Arakelyan believes that the project designed to build a railroad from Armenia to Iran is likely to interest potential investors and construction companies.

Speaking at an Armenian-French business forum in Yerevan on Tuesday he said since this project will be offered for a concession management, it may cause the interest of both investors wishing to become parties to the concession, and construction companies wishing to offer their services. According to him, this project is a government priority. 

The Dubai-based Rasia FZE Investment Company was granted in 2012 a 50-year concession by the Armenian government to build and manage the 305-kilometer railway from Armenia to Iran, to be named the Southern Armenian Railway (SAR).

The company presented earlier this year the final results of a feasibility study of the project estimated to cost some $3.2 billion. 

The high cost of the project is explained by mountainous terrain through which it is supposed to pass. Specifically, it will have 19.6 km-long 64 bridges and 60 tunnels of 102.3 kilometres. 

The railway is to run from Gagarin station in Armenia’s Gegharkunik province to Agarak in southern Syunik and may transport up to 25 million cargos a year. 

According to an Armenian government statement, the Southern Armenia Railway will create the shortest transportation route from the ports of the Black Sea to the ports of the Persian Gulf and establish a major commodities transit corridor between Europe and the Persian Gulf region.” -0-

15:12 14.05.2014

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