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Armenia Rail-Road Project
Dubai-based Rasia in the lead in setting up
major rail-road projects in Armenia
A Dubai-based investment firm is to
play a key role in establishing new USD
$ 3bn high speed rail and road projects
in the Republic of Armenia. Rasia is leading
a consortium of companies which will
work on the Southern Armenia Railway
and Southern Armenia High Speed Road
Projects, Gagik Beglaryan, the Armenian
Minister of Transport and Communication
announced recently. The Ministry in
a statement stated that a tripartite memorandum
of understanding had been recently
signed in Yerevan in the Armenian
capital between Rasia, South Caucasus
Railway, and the Ministry of Transport
and Communication of the Republic of
Armenia.
During a presentation, signing ceremony
and public announcement attended by
senior government officials, ambassadors,
investment and sovereign funds, and corporate
executives from Armenia, China,
Russia, the United Arab Emirates, and Iran,
a tripartite Memorandum of Understanding
on regional cooperation towards the
development of the Southern Armenia
Railway was signed between Rasia FZE,
South Caucasus Railway CJSC, and the
Ministry of Transport and Communication
of the Republic of Armenia.
In 2012, the Republic of Armenia signed
with Dubai-based investment company,
Rasia FZE, two concession agreements for
the vitally important transport projects in
order to develop them on a Public-Private
Partnership basis. The concession terms
provide specific periods for completing
feasibility studies, engineering designs,
project financing and construction and
are followed by a 30-year operating period,
renewable by Rasia for an additional
20 years.
The Southern Armenia Railway is set to
be a 316 km long electrified single track
railway, which will connect Gavar, near
Lake Sevan, to the southern Armenia city
of Meghri on the border with Iran and will
Dubai-based Rasia in the lead in setting up major rail-road projects in Armenia
Completion of Signing Ceremony - Minister Beglaryan and Joseph Borkowski
be integrated with the existing central
railway system of the Republic of Armenia.
It will be operated by South Caucasus
Railway and the operating railway system
of Iran, the statement said.
The Southern Armenia High Speed
Road, is to be constructed in Armenia›s
southern province of Syunik, and will be
a 110 km long expressway connecting
the town of Sisian to Meghri. “When the
projects are completed, transport costs
and times for the region are expected to
improve substantially, fostering greater
regional trade and economic growth
while dramatically strengthening the Armenian
economy,” the statement said.
Joseph Borkowski, Chairman and CEO of
Rasia, said: “The projects have attracted
significant regional interest from both
strategic and financial partners waiting
to participate in their development.” He
said Rasia is already implementing a consortium-based
strategy for the feasibility,
design, financing, development and operation
of the projects.
Borkowski added that Rasia has recently
signed agreements with China Communications
Construction Company Ltd to become
the lead member of the development
consortium. He said: “Rasia and its consortium
members will aim to boost potential
local and international transit freight volumes
by investing in the development of
mineral and agricultural projects.”
February 2013
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