The first time representative of Armenia is included in the board of directors of CJSC “SCR”

YEREVAN, December 10. /ARKA/. The first time Khachatur Avalyan, representative of Armenia is included in the Board of Directors of CJSC “South-Caucasian Railway”.

Candidature of the representative of the Government of Armenia was discussed in the Board Meeting of CJSC “SCR” in Moscow yesterday.

During the meeting, General Director reported on the activities of the company for 9 months of 2009 - draft budget of the company for 2010, draft of investment program for 2010, relevant corrections of 2009, the issue of agreement on provision of services of treasury control, approval of the regulation of information provision to the Department of Work Organization by the company, payment and motivation of work of Open JSC “Russian Railway”.

All the issues of the agenda were approved unanimously. Concession management of “Armenian railway” is implemented by CJSC “South Caucasian Railway” which is 100% affiliate of Open JSC “Russian Railway”. SCR accepted the railway stock of CJSC “Armenian railway” on its balance from June 1, 2008 according to Concession Agreement signed on February 13, 2008. The terms of concession management is for 30 years with the right of prolongation for another 10 years. --0--