During a working visit to Yerevan, Armenia, Oleg Belozerov, CEO and Chairman of the Management Board of Russian Railways OJSC, on Wednesday met with Armenian Prime Minister Nikol Pashinyan. The topic of discussion was the implementation of the Russian concession management of Armenia’s railways, informs the press service of the Russian company.

During the talk, Belozerov presented the results of the activities of South Caucasus Railway CJSC, a subsidiary of Russian Railways OJSC, which ensures the implementation of the concession agreement, and assured the Armenian government—through the prime minister—of the company's commitment to all its obligations.

"The task of Railway workers is to provide the economy of our countries with transport communications. The concession [management] enabled to maintain and develop the railway infrastructure of Armenia—without imposing costs for restoration and maintenance on the republic's budget. All profits were directed to the development of the railway. During the concession [management], the total amount of investments from the funds of Russian Railways OJSC and the revenues of the South Caucasus Railway amounted to 146 billion Armenian drams, or about 400 million [US] dollars. We are open to dialogue and a joint assessment of the effectiveness of the concession agreement with Armenia’s government. We intend to firmly adhere to all the obligations we have undertaken,” Oleg Belozerov stated.

The Russian concession agreement on the management of Armenia’s railways was signed in 2008 for a period of 30 years—and with the right to extend. Today, the South Caucasus Railway CJSC is one of the largest taxpayers in Armenia, making a significant contribution to the formation of the country's budget. Also, it is one of the most significant and largest employers in Armenia.

“Armenia’s railways are an integral part of the 1,520mm gauge railways operating throughout the post-Soviet space. In cooperation with Armenian partners, the Russian side is ready to ensure the necessary cargo flows and create conditions for an increase in the number of transported passengers," the head of Russian Railways OJSC noted.

He added that for this purpose, South Caucasus Railway CJSC is consistently updating its infrastructure and passenger rolling stock.

As a result of the aforesaid meeting, the parties agreed to create a joint working group to assess the possibilities of transit communications using Armenia’s railway network.