Armenia to allocate $49.9 million from anti-crisis fund for railway construction of Vanadzor-Fioletovo highway
25.01.2011,
23:33
Armenia will allocate $49.9 million from Anti-crisis Fund for railway construction of Vanadzor-Fioletovo highway, said Armenian Minister of Transport and Communications Manuk Vardanyan on Tuesday.
YEREVAN, January 25. /ARKA/. Armenia will allocate $49.9 million from Anti-crisis Fund for railway construction of Vanadzor-Fioletovo highway, said Armenian Minister of Transport and Communications Manuk Vardanyan on Tuesday.
“The road will be built with co-funding of Armenian and Russian parties. The envisaged amount will be transferred to SCR under the concession of the Russian party”, said Vardanyan.
The Russian side will make investments for the remaining 50% of the project. Preliminary agreement on parity funding is in force.
The cost of the project is about $100 million. The exact figure of the project cost will be announced after finishing the design works.
“Project works are planned to finalize in autumn and start the railway construction”, said Vardanyan.
Due to negotiations with South-Caucasian Railways open cjsc (SCR) , concessionaire of Russian Railways cjsc, road section Vanadzor-Fioletovo was included in the plans of the concessionaire. It will be the first real project of railway construction in recent 40 years in Armenia.
In 2011 SCR plans to invest 13.5 billion drams in the railway construction of new road Vanadzor-Fioletovo stretching 31.2 km. Total cost of the project is assessed about $100 million.
Construction of new road section is one of the priorities of the Armenian Ministry of Transport and Communications in Armenia for 2011. 32 km of the section will combine railway directions Aghstafa-Ijevan-Hrazdan-Yerevan with railway directions Tbilisi-Gyumri-Masis providing reduction of inter-regional and inter-state transportation. In its result, direction Yerevan-Ayrum will reduce by 70-100 km.
Concession management of “Armenian railway” is implemented by CJSC “South Caucasian Railway” which is 100% affiliate of Open JSC “Russian Railway”. SCR accepted the railway stock of CJSC “Armenian railway” on its balance from June 1, 2008 according to Concession Agreement signed on February 13, 2008. The terms of concession management is for 30 years with the right of prolongation for another 10 years.
($1 – 366.51 drams). --0--
“The road will be built with co-funding of Armenian and Russian parties. The envisaged amount will be transferred to SCR under the concession of the Russian party”, said Vardanyan.
The Russian side will make investments for the remaining 50% of the project. Preliminary agreement on parity funding is in force.
The cost of the project is about $100 million. The exact figure of the project cost will be announced after finishing the design works.
“Project works are planned to finalize in autumn and start the railway construction”, said Vardanyan.
Due to negotiations with South-Caucasian Railways open cjsc (SCR) , concessionaire of Russian Railways cjsc, road section Vanadzor-Fioletovo was included in the plans of the concessionaire. It will be the first real project of railway construction in recent 40 years in Armenia.
In 2011 SCR plans to invest 13.5 billion drams in the railway construction of new road Vanadzor-Fioletovo stretching 31.2 km. Total cost of the project is assessed about $100 million.
Construction of new road section is one of the priorities of the Armenian Ministry of Transport and Communications in Armenia for 2011. 32 km of the section will combine railway directions Aghstafa-Ijevan-Hrazdan-Yerevan with railway directions Tbilisi-Gyumri-Masis providing reduction of inter-regional and inter-state transportation. In its result, direction Yerevan-Ayrum will reduce by 70-100 km.
Concession management of “Armenian railway” is implemented by CJSC “South Caucasian Railway” which is 100% affiliate of Open JSC “Russian Railway”. SCR accepted the railway stock of CJSC “Armenian railway” on its balance from June 1, 2008 according to Concession Agreement signed on February 13, 2008. The terms of concession management is for 30 years with the right of prolongation for another 10 years.
($1 – 366.51 drams). --0--
