By order of Armenian president Serzh Sargsyan, the Minister of Transportation and Communications Gagik Beglaryan announced the launch of "The Southern Railway of Armenia" and "The Southern High-Speed Railway of Armenia" projects, valued at $3 billion, the company Rasia said, ARKA agency reported.
The signing ceremony was attended by senior government officials, ambassadors, representatives of investment and sovereign wealth funds as well as corporate leaders from Armenia, China, Russia, the United Arab Emirates and Iran.
In addition, "South Caucasus Railways", the Ministry of Transport and Communications of the Republic of Armenia and Rasia signed a tripartite Memorandum of Understanding on regional cooperation aimed at the development of The Southern Railway of Armenia.
It is assumed that the Southern Railway of Armenia will be a single-track electrified railway 316 km long, extending from the area of Ghawar, located next to Lake Sevan, to the southern border of Armenia near the town of Meghri where the line will be connected with the existing main Armenian railway system. The Southern high-speed railway of Armenia will have a length of 110 km and will run from Sisian to the southern border of Armenia near the town of Meghri.