Lawyers of the South Caucasus Railway (SCR) CJSC jointly with Armenian Police representatives have launched an audit of the funds spent on the company's re-branding, Spokesperson for SCR CJSC Vardan Aloyan told ArmInfo.
He said the idea of re-branding and development of a new logotype belongs to the former director general of the SCR Shevket Shaydullin who initiated that process by signing an agreement of cooperation with one of the well-known Russian branding companies some 5-6 years ago. "The company pledged to complete the work in three stages. The first two stages were over when the SCR CJSC's leadership was changed. Viktor Rebets who has replaced Shevket Shaydullin said the initiative was untimely and too expensive. In addition, he said, that the company's logotype used since the beginning of the company's activity in Armenia fully meets the company's activity. It was widely rumored in mass media that the words 'Armenia' or 'Armenians' would be added to the company's name and logotype during the re-branding, which does not correspond to reality," Vardan Aloyan said.
In addition, he said, Viktor Rebets suspended the process of re-branding and the funds for the final, third stage of the process, have not been provided. The project was estimated at 4 million rubles, one/third of which have not been provided. The company's lawyers and police representatives are conducting an audit on the issue. "After publications in the process, the Police sent a letter to us, and the audit was launched," the SCR spokesperson said.
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.