Friday, April 3 2015 08:31

"South Caucasus Railway" CJSC has implemented all its tasks for the 2014 financial year. "UKZHD" press-office reports to ArmInfo that PriceWaterhouseCoopers company's fiscal audit results speak for "UKZHD"'s success. 

The company has completed several large-scale infrastructure projects - after the Sanahin TIR complex was reconstructed, it was put into commission. This allowed 180 vacancies for railmen - which provided better working conditions. 

Sanahin railway hub has been fully reconstructed, necessary equipment has been installed, and a new level of technical training has been introduced. 
The first electromotive VL-10 that was fully renovated was put into service last year. 

In 2015 3 more electro-motives will be renovated the same way. This will allow the provision of railway traffic's further safety. 
The reconstruction of Gyumri locomotive and car-repair depot has made possible the implementation of these hard technological works. The Gyumri depot renovation allows full technical service and rolling equipment renovation. 

The renovation of the Gyumri locomotive depot has also allowed the reconstruction and equipment of shops, improvement of the used technologies, creation of safe and comfortable conditions for employees, as well as the establishment of the biggest machine-building complex in Armenia. 
Rolling Equipment and Infrastructure boards have been set up within the framework of the restructuring. More than half of the UKZHD employees work in these two manufacturing complexes that are essential for the provision of railway's field operation.  

Wages of employees were also raised in 2014.  Railmen receive good social security - UKZHD provides its employees' families with vacations.  Last year the company funded the vacation and rehabilitation of 87 employees on the shores of Lake Sevan. 

Summing up the financial year it is necessary to speak of a very important transportation tendency - the reduction of freight turnover. Programmes on resource conservation and curtailing electricity expenditure have been set up and implemented in order to even out the negative impact of the decrease on the railway's operation. Due to the actions taken, the expenditure of electricity on production needs was reduced by 14.7% in 2014. 
The 2014 totals show not only the UKZHD's implementation of its tasks, but also the company's growing profit that has exceeded the one the Board was expecting. This allowed the company to reduce the losses of the past years. 

These works will be carried out in 2015 as well. The economic contractions and the slowing down of the partners' activities in Q1 2015 have had an impact on UKZHD's freight traffic. However, the company has experience for responding to external challenges and implementing resource conservation projects. 
This experience and the company's effective management instill confidence that in 2015 the projects will be fully implemented. 

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.