Iran Allocates Funds to Realize North-South Railway Project to Connect it with Azerbaijan and Russia
Azerbaijan, Baku, 29 July/ Trend / The national railway company of Iran has allocated some $108,400,00o for the construction of Gazvin-Rasht-Anzali-Astara railway within the project of North-South railway between Azerbaijan, Russia and Iran, MNA news agency of Iran reported. Part of the funds will be allocated from the public budget and remaining part from the reserve oil fund.
North-South transport corridor project envisages the construction of railway from Europe to India and to South-East Asia through Russia, Azerbaijan and Iran. The realization of the project requires over $400mln and much of the construction work will be carried out in Iran who does not have railway transport till the border with Azerbaijan. The construction work worth $35mln to $40mln will be carried out in Azerbaijan.
The construction work in Azerbaijan includes the construction of 8.5km of railway till Astara station of Azerbaijan and station with systems of change of wheel pairs, border and customs infrastructure. There is a need also to construct a frontier railway bridge. The project will be realized on parity basis with Iran.
Some 15mln tons of cargo is expected to be carried through this corridor a year with 10mln to 15mln tons a year.