‘Russia set to fund railway line between Iran, Azerbaijan’

July 3, 2016 7:30 pm

is said to be ready to finance a railway line between and . (file photo)

Russia is reportedly poised to finance a railway line connecting Iran with its northern neighbor Azerbaijan.
According
to Tasnim agency, head of the press service of Azerbaijan Railways
OJSC Nadir Azmammadov, has said that Russian Railways OJSC has
discussed the terms of its participation in the financing of the
Rasht-Astara (Iran)-Astara (Azerbaijan) railway with the related parties
in the Azeri capital, Baku.
The report said representatives of
the railways of Azerbaijan, Iran and Russia attended the talks in which
the Azeri side informed the partners about the projects and tasks ahead.
Baku
believes the international transport corridor will improve Azerbaijan’s
transit potential as well as its ties with the other two countries.
Participants in the talks reportedly signed a final protocol.
The trilateral railway project is aimed at connecting Northern with Southeast Asia.
The railway line will initially transport five million tonnes of cargo when it is launched in the near future.
Last
November, Iran and Russia signed an agreement worth 1.2 billion euros
to electrify a train line, linking north-central Iran to the
northeastern border with Turkmenistan.
The agreement signed
between Russian Railways and the Islamic Republic of Iran Railways (RAI)
envisages constructing power stations and overhead power lines along
the Garmsar-Sari-Gorgan-Inche Burun route in Iran.
“The
implementation of the contract will improve the capacity of passenger
trains and raise transit to 8 million tonnes,” said RAI Managing
Director Mohsen Poursaeed-Aqaei who signed the document.
The train
line, among the first in Iran with a history of 80 years, extends to
Turkmenistan and Kazakhstan and links the Central Asia to the Persian
Gulf and beyond.
The project was also set to be financed by the
Russian government and would be implemented in 36 months, which includes
manufacturing all electric locomotives inside Iran, electrifying 495
kilometers of railway and building 32 stations and 95 tunnels.
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