Russia ready to finance $5B of Iranian projects
Baku, Azerbaijan, Oct. 24
By Fatih Karimov - Trend: Iran's Roads and Urban Development Minister says Russia has announced readiness to open a line of credit, worth $5 billion, to finance projects in Iran.
"I have found from the Asian Development Bank that Russia's investment in Iran is possible," Fars news agency quoted Akhoundi as saying Oct. 23.
He made the remarks on the sidelines of his meeting with Russian Energy Minister Alexander Novak.
Akhoundi added that details of 121 projects in transport, housing and urban development, worth $25 billion, have been introduced to 60 large international companies, including Russian companies.
Iran and Russia can cooperate in the provision of sea, rail, and air transportation fleets, he noted.
The Russian transport minister will travel to Iran in December to attend the Iran-Russia-Turkmenistan-Kazakhstan meeting, Akhoundi said.
During the meeting, the Russian minister called for financing the Garmsar-Incheborun railway through establishing a joint bank, but the Iranian minister urged Russia to provide finance for the project. If the project is to be financed by the joint bank, implementation of the project will be delayed, Akhoundi said.
Russia was the 19th leading importer of Iranian non-oil goods in the first half of the current Iranian calendar year (March 21-Septembebr 22), according to Iran Customs Administration.
Iran exported $82.186 million of non-oil goods to Russia and imported $281.409 million of non-oil products from the country in the six-month period.
Edited by CN