Currency fluctuations have affected the "South Caucasus Railways" (UKZHD) activities, Viktor Rebets, "UKZHD" CEO, has told ArmInfo journalist adding that the fluctuation had not affected the exterior volume of turnover, but the interior one.
"Unfortunately, we have had volume decreases in interior freight traffic. This is conditioned by the decrease in cement transportation. "GeoProMining" company has also reduced its freight traffic. Yet I can say there have been no radical changes in regarding this issue", summed up Rebets.
In 2014 the freight traffic made 3.2 mln tons.
To note, from Oct through Dec 17 AMD dropped against USD by almost 45%. It was hyper devaluation of the national dram. Many food and other stores refused to sell products since they did not know at what price to sell their products.
To note, in 2015 UKZHD has planned to make the same amount of investment as in 2014 - approximately 6.5 bln AMD, which complies with the investment schedule stipulated by the concession agreement. According to UKZHD administration, this schedule is fully maintained despite the 15% decrease of freight traffic in Q1 2015 (in comparison with the same period in 2014).
UKZHD offers one and three-day tours from Armenia to Georgia and backwards. The offers include hotels with three meals and sightseeing. The price for the tour package is 65-70 USD per day. CJSC "South Caucasian Railway" is a 100% subsidiary of JSC "Russian Railways" and provides concession management of Armenian railroads. CJSC "Armenian Railways" was referred to the concession management to the company "SCR" according to the Concession Agreement signed on February 13, 2008. The term of the concession management is 30 years with possible extension for another 10 years.