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Armenian Railways transferred to Russian hands

By M. Alkhazashvili
(Translated by Diana Dundua)
Friday, February 15
On February 13 a contract was signed to transfer management of Armenian Railways to South Caucasus Railways, a daughter company of state-owned Russian Railways.

After the signing, Armenian Transport Minister Manukyan told journalists that South Caucasus Railways plans to investment a total of USD 570 million in improving the rail network.

Russian Railways director Vladimir Yakunin said investment would also go toward improving connections with the Georgian, Turkish and Iranian rail networks, the news agency Regnum reports.

Russian Railways has management rights to the network for 30 years with a possible 20-year extension.