RA Transport and Communication Ministry confirmed that CJSC South Caucasus Railways (SCR) will extend investment package to U.S. $603m if Armenia-Turkey border opens. CJSC SCR is a subsidiary to OJSC Russian Railway (RR).

Marat Khakov, CJSC SCR first Deputy Director General, earlier told journalists that the company is ready to establish railway communication with Turkey once political issues are settled.

Before making an agreement on passing Armenian railways into concession management to OJSC RR, it was confirmed that infrastructure investment will make up U.S. $572m, in case the railway communication with Turkey is restored — U.S. $603m, and with Azerbaijan — U.S. $1.7bln. However, if communication via Abkhazian sector is restored the amount will grow to U.S. $2.1bln.

Meanwhile, Azerbaijan MFA Spokesman Elkhan Polukhov told Sept. 9 Zaman daily that Baku is ready to open Armenian border and restore railway communication only if Yerevan returns five “occupied” territories adjacent to Nagorno-Karabakh. Abkhazian President Sergey Bagapsh said a provisional arrangement existed with OJSC RR on further maintenance of Abkhazian railway.