Armenian Prime Minister Tigran Sargsyan received a delegation led by Rasia FZE investment company president, Joseph Borkovski.
Rasia FZE introduced the Armenia Southern Railway project design and feasibility study. Consisting of 27 stations, the railroad will have a length of about 300 km, including several bridges and 60 tunnels. Southern Railway will connect Gavar, near Lake Sevan, to the southern border of Armenia by Meghri and will be integrated with the existing central railway system of the Republic of Armenia, operated by South Caucasus Railway CJSC and the operating railway system of Iran. The project cost is estimated at USD 3.2bn. Scheduled for up to 6 years, construction may start in 2016 and end in 2022.
Rasia FZE, an investment company based in Dubai, was granted in 2012 a 50-year concession to build and manage the Southern Armenian Railway (SAR). Rasia in turn contracted the China Communications Construction Company (CCCC) group to conduct a feasibility study and recommend a cost-effective route for the railway.
“We need to work out a roadmap for the project to become a reality,” Tigran Sargsyan said.
Rasia FZE is working toward attracting investment. Chinese banks are interested in the project and are ready to provide 60% of the funding.
Photo* South Caucasus Railway CJSC