YEREVAN, June 18. /ARKA/. The South Caucasus Railway is fulfilling its investment commitments, Arthur Arakelyan, Armenia’s deputy transport minister, said Wednesday at the opening of the modernized Training Center and Sanahin Station.
He stressed that the company is fulfilling its contractual obligations despite the economic crisis.
“Success and a sound economic climate in the South Caucasus Railway contribute a great deal to formation of a favorable social environment, since the company is the country’s third biggest employer,” Arakelyan said. He said the company has all chances to propel all the social processes in Armenia.
Sanahin, one of the oldest railway stations in Armenia, was built in late 19th century as part of the construction of Tbilisi-Alexandropol railroad. In October 2011, the South Caucasus Railway CJSC embarked on reconstruction of the train yard.
The South Caucasus Railway has invested AMD 1387 million in the railroad junction reconstruction.
The Training Center was opened in 2010 for improving railroad workers’ skills.
The South Caucasus Railways is run by Russian Railways. The concessional agreement was concluded in 2008 for 30 years, with a right of extension for another 20 years after the first 20 years of operation. ($ 1 – AMD 410.61). --0----