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Serzh Sargsyan: Armenia to implement joint projects with Russian Railways Company

June 18, 2014, 23:50 UTC+3 YEREVAN
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YEREVAN, June 18. /ITAR-TASS/. Armenia is set to continue improving the country’s railway infrastructure and also implementing mutually beneficial joint projects in close cooperation with Russia’s major state-run railways corporation RZD, Armenia’s President Serzh Sargsyan said accepting RZD President Vladimir Yakunin on Wednesday.

The two men underlined a high level of relations between Russia and Azerbaijan.

“One of the basic parts of the strategic and allied partnership between Russia and Armenia is cooperation in the transport sphere,” the presidential press service said citing Sargsyan and Yakunin.

The current condition of and prospects for development of the South-Caucasian Railways were in the limelight of the talks. Yakunin told the Armenian president about ex-post investments and current maintenance work on the railroad.

Armenia’s railways were transferred into RZD’s concession management for a term of 30 years with the right to extend the term for another ten years, in line with the treaty signed on February 13, 2008.

Russia's RZD has set up the subsidiary named the South-Caucasian Railways and Vladimir Yakunin heads the board of directors.

In recent years the fleet of locomotives and cars, the infrastructure of train stations and tracks have been modernised, traffic safety has increased and social guarantees of railway employees have been ensured.

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