Negotiations on providing finance for Rasht-Astara railway project in Iran continue

Tehran, Iran, May 23

Trend:

The feasibility study of Rasht – Astara railway has been finalized and the road map has been designed, but negotiations over providing finances to the project continue, said Deputy Minister of Road and Urban Development of Iran Abbas Khatibi.

Khatibi discussed the latest updates on the construction of Rasht-Astara railway in an interview with Trend. "The railway will connect to Qazvin-Rasht railway that eventually links to the International North–South Transport Corridor (INSTC). It is expected that that we construct this railway section," he said.

"The road map is completed, and comments provided by Gilan governor were reflected in the plan, while it was being reviewed by various experts," he added.

In his words, there are two phases of the project and efforts are made to provide financing for the construction to be carried out with assistance from Khatam al-Anbiya Construction Headquarter.

Referring to Iran's negotiations with Azerbaijan on the investments in the project, he said," The issue is underway and being negotiated; if we reach an agreement, it will be officially announced."

Responding to the question concerning possible problems, he explained, "We do not expect any problems in implementing this project, if the necessary resources are provided. We have rich construction experience. Currently, we are constructing around 3,400 kilometer railway in the country. We have the capacity to operate the project, but its financing remains an issue to be addressed."

The construction of Resht-Astara railway is expected to cost $1.1 billion for Iran, while Azerbaijan promised to provide Iran with a loan of 500 million euros to complete the construction of the railway.

The two countries joined efforts, within the International North-South Transport Corridor [a multi-model route to link India and the Middle East to the Caucasus, Central Asia and Europe], to connect their railways through the Qazvin-Rasht-Astara route.

Weekly actual topics in Azerbaijan (April 16-20)
Weekly actual topics in Azerbaijan (April 16-20)
Weekly tenders in the region (April 16-20)
Weekly tenders in the region (April 16-20)
Last week’s laws, orders and decrees in Azerbaijan (April 16-20)
Last week’s laws, orders and decrees in Azerbaijan (April 16-20)
Loading Bars
Latest
Canada's building construction prices rise in second quarter
WHO chief says to enhance cooperation with Kuwait
France's new health pass rules to enter into force on Aug. 9
India sends another Oxygen Express to Bangladesh
India To Have Submersibles That Can Carry Scientists To Depth Of 6,000 Metres Into Sea - Minister
Dr Reddy's Says Made-In-India Sputnik V Doses To Be Available From September-October
Indian Astronomers On Team Which Spotted Shortest Gamma-Ray Bursts From Dying Star
Iran, Austria stress judicial, human rights cooperation
Need effective mechanism to address global vaccine inequity - India in UNSC
Harappan city of Dholavira in Kutch among UNESCO’s world heritage sites
Bipartisan group of U.S. senators reportedly agree on infrastructure package
US supports India's emergence as leading global power - State Department
Defence Minister Rajnath Singh begins 3-day visit to Dushanbe to attend SCO meet
Turkey notes substantial growth in car exports to US
Uzbekistan's 1H2021 main exporters revealed
U.S. crude oil inventories decrease last week
Azerbaijani FM talks with US Assistant Secretary of State
Uzbekistan’s Khorezm region accounts for largest share of fish caught
Georgia begins large-scale co-financing program for agricultural mechanization
Turkmenistan, Tajikistan sign protocol of tenth meeting of the intergovernmental commission
Turkey reports 22,291 new COVID-19 cases
Friendship, fruitful partnership between Azerbaijan and Israel - solid foundation for development of relations – Minister
Turkmenistan sees increase in production in agro-industrial sector
Kazakhstan, Uzbekistan get acquainted with "Azerbaijan" RoPax-type ferry vessel
WB notes key factor in supporting Azerbaijan's anti-corruption efforts
Kazakhstan leads in Central Asia by attracting funds to develop water and energy complex
Non-oil sector becoming main revenue source for Azerbaijan - expert
Uzbekistan’s 1H2021 crop production down
Georgia sees increase in peaches export
Georgia shares data on fully vaccinated people
Deposits in Azerbaijani banks increase in 1H2021
Azerbaijan’s PASHA Bank ends 2Q2021 with profit
Liabilities of Azerbaijan's PASHA Bank grow as of 2Q2021
Azerbaijan's PASHA Bank sees increase in assets
Central Bank of Azerbaijan puts short-term notes up for auction
Azerbaijani Finance Ministry puts up mid-term state bonds for new auction
Azerbaijan temporarily limits imports of animal products from Libya
Foreign policy of Azerbaijani president is aimed at victory and dev't
Russian president discusses situation on the Armenian-Azerbaijani border during Security Council meeting
Azerbaijan sees growth in bank deposits in 1H2021
Azerbaijani FM, chair of Pakistani National Assembly discuss regional security issues (PHOTO)
Azerbaijan ready to implement experience of US companies on 'smart technologies' - minister
Azerbaijan announces number of citizens vaccinated on July 28
Daily number of people infected with COVID-19 exceeds 700 in Azerbaijan
Rumors of Turkish Grand National Assembly's statement on creation of joint Turkic army - not true (VIDEO)
Saudi Arabia's oil exports climb 147% to $16 bln in May
ICL reports jump in profit and revenue in Q2
Non-resource and non-energy export gained 30% in H1 2021 — Russian Export Center
Azerbaijan's Chamber of Accounts takes prominent place in WB report
Italian regulator endorses Moderna COVID-19 vaccine for teens
Boeing posts first profit in almost two years helped by 737 MAX deliveries
AZAL to Start Testing IATA Travel Pass Application on the Most Popular Destinations (VIDEO)
Mine clearance underway on suburbs of reservoir in Azerbaijan's liberated Khojaly - Trend TV (PHOTO)
Uzbekneftegaz looks to introduce advanced technology for gas purification
Kazakhstan increases passenger cars manufacturing
Turkmenistan's trade turnover up
Stability of manat, low inflation in Azerbaijan facilitate economic growth - expert
Kazakhstan’s Altynalmas AK pays out dividends for 2Q2021
Azerbaijani defense minister meets with delegation from Oklahoma (PHOTO)
Turkey sees sharp increase in grain exports to Uzbekistan
Bank lending grows in Azerbaijan in 1H2021
Azerbaijan allocates funds for construction of road infrastructure in Kalbajar, Lachin
Economic growth, social welfare - main priorities of Azerbaijan's state budget
BioLight invests in US peripheral vision home test co
UAE's biggest lender FAB posts 19% jump in Q2 net profit
bp announces planned time of commencing drilling of 3rd well for SWAP
bp to work out ESIA for 3rd well at SWAP by end-2021
Russia’s daily COVID-19 cases fall below 23,000 for the first time since June 30
‘Georgian Dream’ ruling party withdraws from EU-brokered agreement
Azerbaijan's SOFAZ unveils 1H2021 revenues from ACG field
Azerbaijan discloses amount of loans accounting for households
Pfizer raises estimates for 2021 sales of COVID-19 vaccine to $33.5 bln
Turkmenbashi Complex of Oil Refineries opens tender on modernization at polypropylene production plant
Kazakhstan offers Moldova’s entrepreneurs to use its int'l trade centers
Kyrgyzstan passes peak of third coronavirus wave
Prosecutor demands imprisonment for Armenian terrorists who tortured Azerbaijanis during first Karabakh war
Baku court sentences Armenians accused of espionage
Kazakhstan needs to become self-sufficient in agricultural products - president
UK significantly increases import of Kazakh-made products
Azerbaijan creates mobile app for checking COVID passports
Reconstruction of highway connecting several settlements under completion in Azerbaijan’s Tartar district (PHOTO)
Iran's Jask oil terminal reduces oil export costs
Oil refinery in Uzbekistan opens tender for raw materials
Georgia reveals COVID-19 data for July 28
Armenian side demonstrates disrespect for peace, coexistence in region – Azerbaijani ombudsman
Azerbaijan has great potential in creation of artificial lighting systems - Signify
Equinor set to boost production as of 2021
Azerbaijani diaspora reps visit Jidir Plain in Shusha (PHOTO)
Kazakhstan’s MunaiTas opens tender for SCADA systems integration
Iran to open first section of Chabahar-Zahedan railway
Indian embassy in Baku inaugurates Indian Gallery within Gobustan National Historical Artistic Preserve (PHOTO)
OGVs carrying basic goods arrive at Iran's Imam Khomeini port
New sewing enterprise established in Georgia’s Adjara
Iran re-opens decommissioned power plants
Iran talks inactivity of its production factories in industrial towns
Kazakhstan's export to Italy down over 5M2021
Azerbaijani currency rates for July 28
Most of Azerbaijan's SOFAZ assets placed in USD
Japan to allocate funds for dev’t of women's entrepreneurship in Uzbekistan
UAE's top banks post strong Q2 net profit amid recovery from pandemic
All news