'Russia set to fund railway line between Iran, Azerbaijan'
Russia is reportedly poised to finance a railway line connecting Iran with its northern neighbor Azerbaijan.
According to Tasnim news agency, head of the press service of Azerbaijan Railways OJSC Nadir Azmammadov, has said that Russian Railways OJSC has discussed the terms of its participation in the financing of the Rasht-Astara (Iran)-Astara (Azerbaijan) railway with the related parties in the Azeri capital, Baku.
The report said representatives of the railways of Azerbaijan, Iran and Russia attended the talks in which the Azeri side informed the partners about the projects and tasks ahead.
Baku believes the international transport corridor will improve Azerbaijan’s transit potential as well as its ties with the other two countries.
Participants in the talks reportedly signed a final protocol.
The trilateral railway project is aimed at connecting Northern Europe with Southeast Asia.
The railway line will initially transport five million tonnes of cargo when it is launched in the near future.
Last November, Iran and Russia signed an agreement worth 1.2 billion euros to electrify a train line, linking north-central Iran to the northeastern border with Turkmenistan.
The agreement signed between Russian Railways and the Islamic Republic of Iran Railways (RAI) envisages constructing power stations and overhead power lines along the Garmsar-Sari-Gorgan-Inche Burun route in Iran.