Yerevan, October 18 /Mediamax/. “Armenian Railroad” CJSC will be handed over to concessive management on January 15 of 2008.

Mediamax reports that the Minister of Transport and Communication of Armenia Andranik Manukian said this in Yerevan today. He informed that two companies will participate in the tender: the “Russian Railroads” CJSC and the Indian RITES (Rail India Technical and Economic Services) Company. The Minister stated that the packages with the proposals from the companies will be opened on December 21 of 2007, and on December 28 the price proposals will be publicized.

The “Armenian Railroad” CJSC is planned to be handed over to concessive management at the term of 30 years with the right of prolongation for 20 years. According to the conditions of the tender, the concessionaire is obliged to realize investments at the sum of $170mln in the course of 10 years.