President of Rasia FZE presents brief summery of southern railway Armenia and southern high speed road of Armenia projects

YEREVAN, May 2. /ARKA/. President and Chief Executive Officer of investment company Rasia FZE, Joseph Borkowski, presented today a brief summery of Southern Railway Armenia and Southern High Speed Road of Armenia projects to Armenia’s acting transport and communications minister Gagik Beglarian.

In 2012, Armenia signed two concession agreements with Rasia to develop transport projects on a public-private partnership (PPP) basis.  Feasibility studies started at the end of December 2012, and if Rasia finds the projects economically grounded, it will take up the funding.

During the meeting today Borkowski said that a mining project, carried out by a Chinese company Fortune Oil, the volume of railway cargo transportation is expected to surge significantly.

"By working together we have to create a project that will bring together the interests of all parties, as the Southern Railway of Armenia and the Southern High Speed Road  of Armenia are of great strategic importance for the country. The ministry is ready to provide all possible support for the effective implementation of the project,” Beglaryan was quoted as saying in a press release.

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.

Southern Railway of Armenia and the Southern High Speed Road will be part of the international transport corridor North-South. They are estimated to cost $3 billion.

The agreement covers the construction of a 316km railway linking Gavar, 50km east of Yerevan near Lake Sevar, with the Iranian border near Meghri, as well as a 110km highway in the southern province of Syunik. The electrified, single-track railway line will be part of a new north-south corridor linking the Black Sea and the Persian Gulf.  The project is expected to create the shortest transportation link from the ports of the Black Sea to the ports of the Persian Gulf, improving regional connectivity. -0-