ArmInfo. South Caucasus Railway is implementing its investments in stages. This was stated in a statement by the company's press secretary, Ruben Grdzelyan, in response to investment figures reported on an Armenian television channel.
According to Grdzelyan, the figures presented on the broadcast do not reflect reality. Specifically, it was stated that the company is supposedly expected to invest $2.15 billion over the course of 30 years of concession management. "The statement that is not true, since the company is fulfilling its contractual investment obligations in stages. SCR's investment obligations for 2008-2038 amount to 174.5 billion drams (approximately 500 million US dollars), of which approximately 145 billion drams have already been invested. This means that more than 80 percent of the investment program has been implemented to date," Grdzlyan said.
South Caucasus Railway CJSC (SCR) is a wholly owned subsidiary of Russian Railways OJSC (RZD). The company has been managing Armenia's railway system since 2008. It ensures the functioning of the infrastructure and passenger and freight transportation. The investment program of South Caucasus Railway CJSC (SCR) for 2025 exceeds 2 billion drams, aimed at modernization Infrastructure. In 2024 alone, SCR spent an additional $2 million to restore sections of railway damaged by the May flooding in northern Armenia.
