YEREVAN, February 19. /ARKA/. Construction of the Southern Armenia Railway costing $3.2 billion may start already in 2016, the press office of Armenian government reported after the premier’s meeting with a delegation headed by president of Rasia FZE Joseph Borkowski.
Borkowski presented the project design and the feasibility study to the government.
The 300km railway will include bridges, 60 tunnels and 27 stations. Construction is expected to take up to six years and to be completed in 2022.
A roadmap for the project needs to be elaborated to make the railroad a reality, the premier said at the meeting.
The design works were carried out by CCCC International Chinese company that has long-year experience and recognition in the field.
Rasia FZE is seeking investments for the projects. Chinese banks are ready to fund 60% of the project, the meeting participants said.
A tripartite memorandum of understanding was signed between Rasia, South Caucasus Railway, and the Ministry of Transport and Communication of the Republic of Armenia back in January 2013.
The Southern Armenia Railway is set to be a 316km long electrified single track railway, which will connect Gavar, near Lake Sevan, to the southern border of Armenia by Meghri and will be integrated with the existing central railway system of the Republic of Armenia.
Rasia FZE and Rasia Group, Rasia Management LLC, Southern Armenia Railway Pte Ltd., and Southern Armenia High Speed Road Pte Ltd. are members of the "Rasia" group of investment and investment management companies based in Dubai, UAE, the Cayman Islands, Armenia and Singapore. Rasia is involved in direct principal investments and investment management primarily in mining and strategic infrastructure. The company has a 50-year concession for the Southern Armenia Railway. ($1=411.79drams). –0--