By Rashid Shirinov
Iran and Azerbaijan will jointly finance the Rasht-Astara railway segment in northern Iran, Iranian Deputy Minister of Roads Asghar Kashan said on January 21, the state TV channel IRINN reports.
He said that each of the two countries will provide 50 percent of the necessary investments for the construction of the railway.
“Azerbaijan will contribute $500 million to the project,” Kashan said.
The Deputy Minister also touched upon the construction of the Rasht-Qazvin railway, noting that it is expected to be launched within the next three months.
The Rasht-Astara railway is envisaged to be ready in three years. Its construction will begin in the first half of 2018. The opening of the 164-kilometer section is planned for 2020.
This railway is an important part of the International North-South Transport Corridor, which is meant to connect Northern Europe with Southeast Asia. The corridor will serve as a link connecting the railways of Azerbaijan, Iran and Russia.
At the initial stage, it is planned to transport six million tons of cargo per year through the corridor and 15-20 million tons of cargo in future.
Rashid Shirinov is AzerNews’ staff journalist, follow him on Twitter: @RashidShirinov
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