Iran, Armenia to mull railway construction
Yerevan and Tehran have agreed to hold discussions on the construction of Iranian-Armenian railway, Iran's co-chairman of the Armenian-Iranian intergovernmental commission, Energy Minister Majid Namdz said Thursday, Armenian ARKA news agency reported.
"There is an agreement for Armenia and Iran to discuss various issues related to the construction of the railway with the participation of all concerned parties," Namdz said after signing of the Memorandum of Understanding following the eleventh meeting of the commission held in Yerevan on October 23-25.
He said that Armenian and Iranian sides pay great attention to the railway construction.
The North-South railway (Iran-Armenia) will allow Armenia to use the alternative route of transporting energy resources and other goods. According to the expert estimates, around $1.7-2.8 billion are required to implement the project. Russia, Iran and China are discussing the railway construction.
The World Bank and the Asian Development Bank have expressed interest in the project.
Armenian and Iranian Presidents Serzh Sargsyan and Mahmoud Ahmadinejad instructed ministers of the two countries in December 2011 to start practical implementation of strategic programs to construct the oil pipeline and the Iranian-Armenian railway, as well as hydroelectric power plant on the Araks River in 2012.
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