10-20 million USD and control

03/06/2007

The regular operation of the Smat ferryboat is being delayed, as its owner Reserve Capital Corporation has logistical and legal issues to solve with Russian ports and railroads. This was informed by the head of the Industrial and Business Chamber of RA, Arsen Ghazaryan. He said that the ferryboat would be launched on Friday, but he didn’t exclude that after the launch the operation will be ceased for some time. The fees offered by the corporation also need to be negotiated on. “Those are the same as with Poti-Ilichevsk boats,” mentioned Ghazaryan. The price of the transportation of one wagon by Poti-Ilichevsk boats is 2,300 USD. Let’s remind that the Caucasus-Poti ferryboat should have started its operation on March 15, however so far it sailed only once. Ghazaryan also said that Armenian businessmen are also willing to change their orders and cooperate with the mentioned corporation. The mentioned corporation is willing to sell up to 45% of its stocks, however none of the Armenian businessmen has reacted on that suggestion so far. “If our statesmen don’t start to realize that we must have control of the Caucasus-Poti ferryboat, we will lose everything,” says the executive director of “Apaven” cargo transporting company, Gagik Aghajanyan. “In order to have control we need to buy the stocks.”