Sergey Valko, General Director of South Caucasus Railway, and Anatoly Gogotin, General Director of GeoProMining Gold LLC, signed an agreement on December 14 to organize the transportation of gold-bearing ore from the Sotk deposit to the Ararat gold extraction plant in 2019.

According to the deal, the volume of transported ore will be 1,500,000 tons- up to 10% more than in 2018.

“We are investing in both modernizing the railways and rolling stock in the direction of Hrazdan, Sevan, Shorzha and Zoda. By the end of 2018, the SCR investment in infrastructure modernization and traffic automation will exceed 1.4 billion drams in Sevan. We are satisfied with the stable activity of GeoProMining Gold and the growth in cargo traffic in this direction,” said Sergey Valko.

According to General Director of GeoProMining Gold LLC Gogotin, being from among the two largest taxpayers in Armenia, GeoProMining Gold and SCR companies are actively building up mutually beneficial cooperation, while from year to year they record growth in contributions to the Armenian state budget and provide employment to over 4,000 people.