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RASIA ANNOUNCES ACHIEVEMENT OF KEY MILESTONE FOR SOUTHERN ARMENIA RAILWAY IN MEETING WITH ARMENIAN PRIME MINISTER
PR Newswire
September 15, 2013 Sunday 1:00 AM EST
DALIAN, China, September 15, 2013
Prior to the start of the World Economic Forum, Rasia FZE announced in
a meeting with Armenian Prime Minister Tigran Sargsyan the achievement
of a key milestone for the Southern Armenia Railway, including the
release of a highly favorable feasibility study and the recommended
railway design route from China Communications Construction Company
("CCCC").
Joseph Borkowski, Chairman of Dubai-based investment firm Rasia FZE
which owns the 50-year concession for the Southern Armenia Railway,
highlighted the strong economic viability and regional importance of
the railway, as demonstrated by the feasibility study. Having reached
this key milestone, Rasia will now move towards securing essential
regional cooperation for the following financing, construction and
operating stages of the project.
The feasibility study results indicate that the Southern Armenia
Railway will cost approximately US $3.5 billion to construct, have a
length of 305 kilometers from Gagarin to Agarak, and provide a base
operating capacity of 25 million tons per annum. The railway will have
84 bridges spanning 19.6 kilometers and 60 tunnels of 102.3 kilometers,
comprising 40% of the total project length. The selected railway
alignment is nearly 44 kilometers shorter than previously estimated
from Gavar to Agarak and will include the Gagarin to Gavar connection
to the existing railway network, operated by the JSC Russian Railways
subsidiary South Caucasus Railway CJSC.
Mr. Borkowski expressed his sincere gratitude for the time invested
by Prime Minister Tigran Sargsyan in Dalian, China and for the
strong support of Minister Beglaryan and the staff of the Ministry
of Transport and Communication over the past year. Mr. Borkowski
also reiterated his great satisfaction with the exceptional work and
dedication of the CCCC team, enabling completion of the feasibility
study ahead of schedule, and the positive technical cooperation with
General Director Mr. Viktor Rebets and his team at South Caucasus
Railway CJSC.
As the key missing link in the International North-South Transport
Corridor, the Southern Armenia Railway will create the shortest
transportation route from the ports of the Black Sea to the ports
of the Persian Gulf. The Southern Armenia Railway will establish a
major commodities transit corridor between Europe and the Persian
Gulf region, with conservative long-term traffic volume forecasts of
18.3 million tons per annum. Once the railway is completed, transport
costs and times for the region are expected to improve substantially,
fostering greater regional trade and economic growth while dramatically
strengthening the Armenian economy. The feasibility study suggests a
National Economic IRR for Armenia exceeding 11%. The implementation
of the Southern Armenia Railway Project is a top strategic priority
for Armenia and the region.
SOURCE Rasia FZE
From: A. Papazian
PR Newswire
September 15, 2013 Sunday 1:00 AM EST
DALIAN, China, September 15, 2013
Prior to the start of the World Economic Forum, Rasia FZE announced in
a meeting with Armenian Prime Minister Tigran Sargsyan the achievement
of a key milestone for the Southern Armenia Railway, including the
release of a highly favorable feasibility study and the recommended
railway design route from China Communications Construction Company
("CCCC").
Joseph Borkowski, Chairman of Dubai-based investment firm Rasia FZE
which owns the 50-year concession for the Southern Armenia Railway,
highlighted the strong economic viability and regional importance of
the railway, as demonstrated by the feasibility study. Having reached
this key milestone, Rasia will now move towards securing essential
regional cooperation for the following financing, construction and
operating stages of the project.
The feasibility study results indicate that the Southern Armenia
Railway will cost approximately US $3.5 billion to construct, have a
length of 305 kilometers from Gagarin to Agarak, and provide a base
operating capacity of 25 million tons per annum. The railway will have
84 bridges spanning 19.6 kilometers and 60 tunnels of 102.3 kilometers,
comprising 40% of the total project length. The selected railway
alignment is nearly 44 kilometers shorter than previously estimated
from Gavar to Agarak and will include the Gagarin to Gavar connection
to the existing railway network, operated by the JSC Russian Railways
subsidiary South Caucasus Railway CJSC.
Mr. Borkowski expressed his sincere gratitude for the time invested
by Prime Minister Tigran Sargsyan in Dalian, China and for the
strong support of Minister Beglaryan and the staff of the Ministry
of Transport and Communication over the past year. Mr. Borkowski
also reiterated his great satisfaction with the exceptional work and
dedication of the CCCC team, enabling completion of the feasibility
study ahead of schedule, and the positive technical cooperation with
General Director Mr. Viktor Rebets and his team at South Caucasus
Railway CJSC.
As the key missing link in the International North-South Transport
Corridor, the Southern Armenia Railway will create the shortest
transportation route from the ports of the Black Sea to the ports
of the Persian Gulf. The Southern Armenia Railway will establish a
major commodities transit corridor between Europe and the Persian
Gulf region, with conservative long-term traffic volume forecasts of
18.3 million tons per annum. Once the railway is completed, transport
costs and times for the region are expected to improve substantially,
fostering greater regional trade and economic growth while dramatically
strengthening the Armenian economy. The feasibility study suggests a
National Economic IRR for Armenia exceeding 11%. The implementation
of the Southern Armenia Railway Project is a top strategic priority
for Armenia and the region.
SOURCE Rasia FZE
From: A. Papazian