SCR says still early to speak about building railway to Zvartnots airport

|

USD

391.74

EUR

426.88

RUB

4.5721

GEL

141.28

Economy

19.12.2013, 16:02

Viktor Rebets, CEO of South Caucasus Railways, a Russian company operating Armenia’s railroads, said today it was still early to talk about building a railway to Yerevan Zvartnots airport due to lack of a feasibility study.

SCR says still early to speak about building railway to Zvartnots airport

YEREVAN, December 19. / ARKA /. Viktor Rebets, CEO of South Caucasus Railways, a Russian company operating Armenia’s railroads, said today it was still early to talk about building a railway to Yerevan Zvartnots airport due to lack of a feasibility study.

In 2012, the South Caucasus Railway , the Armenian ministry of transport and Armenia-International Airports Company signed a memorandum of intention for a railway to be constructed towards Zvartnots airport.

The railway is to be 7,800 meters long, of which 5,350 meters is to l be a new railway line. The project includes construction of an 810 meters long tunnel. This railway, if built, will connect the passenger terminal of Zvartnots airport with Charbakh Metro station and the airport’s cargo terminal with Karmir Blur railway station.

The memorandum was signed in view of the government’s strategic program of establishment of logistical center and a free economic zone near Zvartnots airport. In accordance with the memorandum, the parties agreed to appoint responsible persons who were given three months to develop proposals on the feasibility of the project.

Speaking at a news conference today, Rebets said there was no calculation yet about how much of goods the projected railway could transport.

South Caucasus Railways is a 100% subsidiary of state-run Russian Railways that was awarded a concesional management of SCR. The 30 year contract was signed in 2008. It can be prolonged for another 10 years. -0- 0-

S&P expects Armenia's economic growth to halve in three years

Over the next three years, growth in Georgia and Armenia will almost halve, from 9.4% and 8.8%, respectively, in 2022-24, but will remain sustainable, according to a commentary by S&P Global Ratings analysts, as reported by FrankMedia.

14.03.2025 10:26

Dynamics of the decline in exports and imports in Armenia will last throughout the first half of the year – EDB

The decline in the value of exports and imports in Armenia in January by 49.2% year-on-year (y/y) and 33.5% y/y, respectively, was due to the fact that the positive impact of foreign trade in precious metals had been exhausted.

13.03.2025 15:00

Armenia's position in the “2025 index of economic freedom significantly worsens”

Armenia ranked 57th out of 184 countries in the 2025 Index of Economic Freedom, published by the Heritage Foundation.

12.03.2025 12:25

Freight traffic in Armenia grew by 12.9% in January, passenger traffic declined by 20.8%

The total freight traffic in Armenia in January 2025 amounted to 1,117.6 thousand tons, increasing by 12.9% compared to January 2024, while the total passenger traffic amounted to 12,728.6 thousand with a 20.8% decline, according to the National Statistical Committee.

10.03.2025 17:22

Risk assessment and portfolio diversification: CEO of Armenian company Cube Invest about myths and real features of investing

To form a successful investment portfolio, two main steps should be highlighted, said Mikael Margaryan, CEO and Chairman of the Board of Directors of the investment company Cube Invest.

10.03.2025 13:53

Service sector in Armenia grows by 12.6% in the first month of 2025, exceeding 280 billion drams

The volume of the service sector in Armenia in January 2025 amounted to 280,031.8 million drams (at current prices), showing an increase of 12.6% compared to January 2024 and 19.7% compared to December 2024.

10.03.2025 13:03

Domestic trade turnover in Armenia in January amounted to 39 billion drams with a growth of 9.9%

Domestic trade turnover in Armenia in January 2025 amounted to 379,155.1 million drams (at current prices), marking an increase of 9.9% compared to January 2024 and a decrease of 51.8% compared to December 2024, according to the National Statistical Committee of Armenia.

10.03.2025 12:14

Inflation in Armenia reaches the Central Bank’s target range – EDB

Inflation has reached the target range set by the Central Bank of Armenia, according to the weekly macroeconomic review by the Eurasian Development Bank (EDB).

10.03.2025 10:29