Baku, Azerbaijan, July 5
By Maksim Tsurkov, Dalga Khatinoglu – Trend:
The issue of financing construction of the Astara-Rasht railway in Iran as part of the International North-South Transport Corridor will be resolved in the next two months, Javad Jahangirzadeh, Iranian ambassador in Azerbaijan, told Trend.
The International North-South Transport Corridor is meant to connect Northern Europe with Southeast Asia. It will serve as a link connecting the railways of Azerbaijan, Iran and Russia.
It is planned to transport five million tons of cargo per year at the first stage and more than 10 million tons of cargo in the future via this corridor.
Building the Rasht-Astara section will cost Iran $1.1 billion, while a part of these funds, $500 million, is planned to be attracted as a loan from the Azerbaijani government.