Baku, Azerbaijan, Jan. 21
By Khalid Kazimov – Trend:
The Iranian deputy roads minister, Asghar Fakhrieh Kashan, has said that Iran and Azerbaijan will jointly finance a railway segment in northern Iran.
He has said that each of the two countries will provide 50 percent of the required investment for the construction of Rasht-Astra railway, the state-run news channel IRINN reported.
The official added that Azerbaijan will contribute $500 million in the form of finance to the project.
Fakhrieh Kashan further touched upon the construction of Rasht-Qazvin railway and said the railroad is expected to be inaugurated within the next three months.
Qazvin-Rasht and Rasht-Astara railroads are two key segments of the International North-South Transport Corridor which is meant to connect Northern Europe with Southeast Asia.
The corridor will serve as a link connecting the railways of Azerbaijan, Iran and Russia.
At the initial stage, it is planned to transport 5 million tons of cargo per year through the corridor and over 10 million tons of cargo in future.