Iran, Azerbaijan eye financing railway project
By Laman Ismayilova
Iran’s Deputy Transport Minister Asghar Fakhrieh-Kashan and
Azerbaijan’s Deputy Economy Minister Sahil Babayev have attended a
session of the transport working group of the two countries held in
Baku.
The working group has discussed cooperation between Iran and
Azerbaijan on the financial issues of a project for the
construction of Rasht-Astara railway, the Iranian embassy in
Azerbaijan reported
Asghar Fakhrieh-Kashan has said that Iranian and Azerbaijani
constructors will cooperate in the construction of the railway.
Iran and Azerbaijan will jointly invest in the project and the
Azerbaijani government has decided to invest $500 million, he
added.
The sides have prepared the draft of a memorandum of understanding
(MoU) for joint investment in the mentioned railroad project and it
is expected to be inked during Iranian President Hasan Rouhani’s
upcoming visit to Baku on August 8.
Fakhrieh-Kashan forecasted that the construction of the project
will be launched within the next couple of months after finalizing
legal procedures.
The 165 kilometer long Rasht-Astara railway lays inside Iran. Once
the railway is completed, it will play a key role in developing the
International North–South Transport Corridor.
Iran’s southern port city of Bandar Abbas on the coast of the
Persian Gulf will be connected to its northern neighbor,
Azerbaijan, through the railway.
Iran’s Ambassador to Azerbaijan Mohsen Pak Ayeen earlier said that
the railway after inauguration will be capable of carrying 10
million tons of goods and three million passengers per year.
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