Iran in talks with China on North-South corridor finanсing
Baku, Azerbaijan, Nov. 15
By Fatih Karimov – Trend
Iran is negotiating with China over financing the Rasht-Astara railway project, Mohsen Pour Seyed Aghaei, Iran’s deputy minister of Roads and Urban Development, said.
Iran seeks financiers to complete the construction of the railway, Pour Seyed Aghaei said, ILNA news agency reported Nov. 15.
Receiving finance from Chinese investors is one of the options and Tehran is negotiating with China in this regard, he said.
The construction of the Rasht-Astara railway comes as part of a larger project to create the North-South transportation corridor.
The North-South transportation corridor is meant to connect Northern Europe with Southeast Asia. It will serve as a link for connecting the railways of Azerbaijan, Iran and Russia.
At the initial stage, it is planned to transport 5 million tons of cargo via the North-South corridor per year and to increase the figure to over 10 million tons in the future.