BAKU, Azerbaijan, June 15. The agreement on the construction of the railway section between Rasht and Astara will open a new chapter in the development of the North-South Transport Corridor, Minister of Transport and Urban Development of Iran, Mehrdad Bazrpash said, Trend reports.
He made the remark during a panel discussion at the St. Petersburg International Economic Forum.
"Over the past two years, we have taken a series of measures to develop the North-South Corridor, and the signing of the agreement for the Rasht-Astara section has been the most constructive decision. This step will open a new chapter in the development of this corridor," he said.
The agreement on the construction of this railway section between Rasht and Astara, which passes through Azerbaijan, was signed on May 17 in the presence of the Presidents of Russia and Iran, Vladimir Putin and Ebrahim Raisi.
According to the agreement, the construction of this railway will cost the Russian side 1.6 billion euros. The railway is planned to be put in operation within 48 months.
The Rasht-Astara line will be approximately 170 km long. It is needed to connect the landlocked sections of the North-South International Transport Corridor, which will enhance the economic efficiency of the Trans-Caspian route. The railway line is expected to be built with the participation of Moscow and Tehran, while the Astara (Iranian city) - Astara (Azerbaijani city) line will involve Moscow, Tehran, and Baku.