New Message from Russia to Yerevan: Stop the Concession, Investments Must Be Repaid

“Russian Railways” (RZD) is consistently and fully fulfilling its obligations under the railway concession agreement signed with Armenia. This was stated by Oleg Belozyorov, the General Director and Chairman of the Board of “Russian Railways,” in an interview with TASS.

“Thanks to the concession, Armenia has received a modern railway system, and the state budget has been relieved of the costs of its restoration and maintenance. No dividends have ever been paid from ‘South Caucasus Railway’ OJSC, and all profits have been directed towards the development of the railway,” Belozyorov said, noting that RZD intends to continue maintaining the conditions of the railway concession with Armenia, and in case of a change in conditions or termination of the concession, the company has the right to expect the return of its investments.

Belozyorov emphasized that “South Caucasus Railway” is one of the largest and most significant employers in Armenia. He added that from 2008 to 2025, the total volume of investments made by RZD and “South Caucasus Railway” from their own revenues amounted to approximately $396.3 million.

At the same time, the head of RZD noted that the company was surprised and puzzled to learn from the media about the possible introduction of a fee for the rental of railways in Armenia.