Azerbaijan, Baku, May 5 / Trend /
Construction continues of the
Qazvin-Rasht-Astara railway, which is part of the North-South transport corridor.
The Qazvin-Rasht-Astara railway is part of the
North-South transport corridor, implemented by Azerbaijan, Russia and Iran.
Earlier, heads of the railway authorities of these countries signed a document to create a joint venture within the North-South railway corridor. The company will prepare a business plan of Rasht-Astara (Iran) - Astara (Azerbaijan) railway construction project.
Investments worth $400 million have been made in the construction of the railway. Investments are planned to be drawn at the expense of banks of project member countries, as well as from other regional financial institutions.
During the preliminary years the volume of freight transportation via the railway is projected at six million tons a year, with a subsequent increase in the volume of freight to 20 million tons per year.