South Caucasus Railway’s profit in 2014 expected at 150mln drams versus 82mln planned
23.12.2014,
10:48
Profit of the South Caucasus Railway (SCR) will amount to 150 million drams by the end of this year, compared to 82 million drams planned, general director of the company Victor Rebets told reporters on Monday.
YEREVAN, December 23. /ARKA/. Profit of the South Caucasus Railway (SCR) will amount to 150 million drams by the end of this year, compared to 82 million drams planned, general director of the company Victor Rebets told reporters on Monday
It is a considerable reduction compared to 2013 profit level, about 700 million drams, Rebets said.
The profit dropped due to increase in expenditures, tariffs for electricity in particular, he said.
The loss suffered by the company since the beginning of the concession (2008) has totaled 10 billion drams, according to Rebets.
The SCR has managed to reduce the losses by 2 billion drams in the last four years, the general director said.
Rebets stressed the company intends to use its not big, but still stable profits to further reduce losses. The profit target for 2015 is about 150 million drams, he said.
South Caucasus Railway, a subsidiary of Russian Railways, runs Armenian Railway, which was handed over to the South Caucasus Railway on February 13, 2008 for 30-year concession management with a right to prolong the management term for other 10 years. ($1 – 456.17 drams). --0--
