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SOUTH CAUCASUS RAILWAY WILL INVEST 6.5 BILLION DRAMS NEXT YEAR INTO FACILITY'S UPGRADING
YEREVAN, December 22. / ARKA /. The South Caucasus Railway (SCR),
a Russian company operating Armenia's railroads, will invest 6.5
billion drams next year into the upgrading of the facility, SCR CEO
Viktor Rebets told a news conference today.
He said the investment program's focus will be on the rehabilitation of
the infrastructure, and its priorities will be track facilities, power
systems, signaling, centralization, blocking and communication systems.
He said the company has invested as much this year as stipulated by
the contract and despite a drop in freight volume it decided not to
cut on next year's investment.
The company expects that the freight traffic in 2015 will grow by
0.9%, the number of locally transported passengers by 0.6% and the
number of passengers traveling to neighboring Georgia by 0.1%. It
also expects its profit to increase by 151.9 million drams. Labor
productivity is projected to increase in 2015 by 3.3% and the median
monthly wage will grow as much to reach 201,000 drams.
The company said it will work also to improve the company's position
in the transport market, its fiscal management, raise the safety on
the railway and introduce the automated 1C accounting system.
The South Caucasus Railways is run by Russian Railways. The
concessional agreement was concluded in 2008 for 30 years, with a
right of extension for another 20 years after the first 20 years of
operation. .($1 - 455.75 drams). -0-
http://arka.am/en/news/business/south_caucasus_railway_will_invest_6_5_billion_dra ms_next_year_into_facility_s_upgrading/#sthash.PVHb2R9y.dpuf
YEREVAN, December 22. / ARKA /. The South Caucasus Railway (SCR),
a Russian company operating Armenia's railroads, will invest 6.5
billion drams next year into the upgrading of the facility, SCR CEO
Viktor Rebets told a news conference today.
He said the investment program's focus will be on the rehabilitation of
the infrastructure, and its priorities will be track facilities, power
systems, signaling, centralization, blocking and communication systems.
He said the company has invested as much this year as stipulated by
the contract and despite a drop in freight volume it decided not to
cut on next year's investment.
The company expects that the freight traffic in 2015 will grow by
0.9%, the number of locally transported passengers by 0.6% and the
number of passengers traveling to neighboring Georgia by 0.1%. It
also expects its profit to increase by 151.9 million drams. Labor
productivity is projected to increase in 2015 by 3.3% and the median
monthly wage will grow as much to reach 201,000 drams.
The company said it will work also to improve the company's position
in the transport market, its fiscal management, raise the safety on
the railway and introduce the automated 1C accounting system.
The South Caucasus Railways is run by Russian Railways. The
concessional agreement was concluded in 2008 for 30 years, with a
right of extension for another 20 years after the first 20 years of
operation. .($1 - 455.75 drams). -0-
http://arka.am/en/news/business/south_caucasus_railway_will_invest_6_5_billion_dra ms_next_year_into_facility_s_upgrading/#sthash.PVHb2R9y.dpuf