Azerbaijan's 50% finance share for Rasht-Astara Railway project

TEHRAN, Jan. 21 (MNA) – Deputy Minister of Roads and Urban Development for International Affairs Asghar Fakhriyeh Kashan on Sunday said, “with the allocation of $500 million worth of finance by the Republic of Azerbaijan, construction operation of Rasht-Astara Railway project will go on stream between Iran and Republic of Azerbaijan within the framework of joint venture (JV) contract.”

If construction operation of Rasht-Astara Railway project is finished, construction operation of the main portion of South-North Rail Corridor will also be completed, he said, adding, “accordingly, India and China can transit their commodities to the Central Asian states, Republic of Azerbaijan, Russia and Europe.”

Rasht-Astara Railway project is one of the most important national projects, so that transfer of goods via south Iran will be facilitated to Europe, he maintained.

Turning to the completion of construction operation of Qazvin-Rasht Railway project, he said, “we expect that rail route between Qazvin to Rasht will be put into operation by the next three months.”

Earlier, Italian, Russian and Chinese companies expressed their readiness to make huge investment for the construction of Rasht-Astara Railway but the Islamic Republic of Iran agreed to invest in this giant project due to its location with the Republic of Azerbaijan as joint venture, the deputy roads minister concluded.

MA/IRN82802581

News Code 131474

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