Iran needs $1.1B to complete North-South Corridor in 3 years (Exclusive)
Baku, Azerbaijan, June 19
Dalga Khatinoglu, Trend:
Iran needs $1.1 billion worth of investment to complete the Rasht-Astara (175 kilometers) segment of the North–South Transport Corridor in three years, Hossein Ashoori, Member of Board and Head of International Transportation at Iranian Railways told Trend June 19.
Before, Iran was in talks with Azerbaijan’s International Bank over the loan issue, but Ashoori said that currently the Iran is negotiating with Azerbaijani government over financing the project.
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.
The corridor is planned to transport 6 million tons of cargo per year at the initial stage and 15-20 million tons of cargo in the future.
Qazvin-Rasht (162 kilometers) section in Iran as well as Astara-Astara section (8 km in Azerbaijan’s territory and 2 km in Iran as well as an 82.5-meter railway bridge over Astara River) as part of the International North-South Transport Corridor is projected to be completed by September.