Azerbaijani-Iranian consortium to develop Rasht-Astara project - official (Exclusive)
Tehran, Iran, June 23
By Kamyar Eghbalnejad, A. Shirazi - Trend:
A consortium of Azerbaijani and Iranian companies would be involved in the construction of the Rasht-Astara railway which will connect Iran to the Caucasus, Russia, and Europe, Nourollah Beiranvand, Islamic Republic Railway Company's deputy for planning and investment, said.
“A consortium of Azerbaijani and Iranian firms, and also probably foreign companies, will be present in the Rasht-Astara railway projects,” Beiranvand told the Trend news agency on June 23.
“The presence of Azerbaijani companies in this project is definite,” he further stressed.
Saying that talks are underway between Tehran and Baku to decide about issues like contractors and land acquisition, Beiranvand said, “Final stages of the project have not been set yet”.
I believe the formalities necessary for obtaining permits, opening credit lines, and funding the project will take five to six months to complete, he said.
The Rasht-Astara Railroad project will be jointly carried out by Iran and Azerbaijan, each providing 50% of the required finances. Azerbaijan will provide the $500 million worth of funding, and Iran will invest the same amount in the project.
Elsewhere in the interview, IRIR's deputy for planning and investment hailed a contract signed between the Islamic Republic of Iran Railways (IRIR), Alborz Niroo Railroad Company and Maskan Investment Bank on June 19 for selling securities at Tehran Stock Exchange.
Beiranvand said financing a locomotive manufacturing project via Tehran Stock Exchange could be a great move and this is the first time that the Islamic Republic of Iran Railways is taking the risk and cooperating with the private sector and Securities and Exchange Organization (SEO) to finance its projects.