Tehran, Beijing eye North-South corridor financing
By Laman Ismayilova
Iran is in talks with China over financing the Rasht-Astara railway project, Iran’s deputy minister of Roads and Urban Development Mohsen Pour Seyed Aghaei said.
Iran seeks financiers to complete the construction of the railway, Pour Seyed Aghaei said, ILNA news agency reported.
Receiving finance from Chinese investors is one of the options and Tehran is negotiating with China in this regard, he said.
The construction of the Rasht-Astara railway comes as part of a larger project to create the North-South transportation corridor.
The International North South Transport Corridoris a multi-modal trade transport network that includes rail, road, and water transport from Mumbai in India to Moscow in Russia. It addresses the need for greater economic and energy cooperation between South, Central and the West Asian region.
The rroute will serve as a link for connecting the railways of Azerbaijan, Iran and Russia.
At the initial stage, it is planned to transport 5 million tons of cargo via the North-South corridor per year and to increase the figure to over 10 million tons in the future.
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