South Caucasus railways’ freight traffic grows 8.4%

YEREVAN, November 21. /ARKA/. South Caucasus Railways Company has transported 2,707,700 tons of cargoes over a period between January and October 2011 – 8.4% year-on-year growth, the company’s press office reported on Monday.

The ten months’ freight traffic exceeded the 2,478,200 tons planned for this period of time.

Some 368,300 tons were exported (33.8% year-on-year growth) and 1,151,800 tons imported (3.1% year-on-year decline) in Jan-Oct 2011.

Local freight traffic totaled 1,187,600 tons in Jan-Oct 2011 – 14.9% year-on-year growth.

“The South Caucasus Railway is gradually building up its general indicators, including freight traffic,” the company’s press release says. “The company has managed to reach such results thanks to its flexible price policy, which is focused on reducing transportation costs.”

South Caucasus Railways, a 100-percent subsidiary of Russian Railways, runs Armenian Railway. Armenian Railways was handed over to the South Caucasus Railways on February 13, 2008 for 30-year concession management with a right to prolong the management term for other 10 years.-0--