16:31 GMT +311 December 2017
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    RUSSIA, AZERBAIJAN, IRAN TO BUILT NEW RAIL OUTSPUR

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    MOSCOW, May 20 (RIA Novosti) - Russia, Azerbaijan and Iran are forming an international consortium to build a new railway outspur from the international transport route.

    The agreement was reached at a trilateral meeting in Moscow of the three countries' railway heads, Gennadi Fadeev, president of the Open-End Joint-Stock Company Russian Railways, told the joint press conference on Thursday.

    The project intends the construction of the new railway Kazvin-Resht-Astara in Iran, designed to link its railway grid via Azerbaijan with the Russian railway line.

    The question of organising the international consortium has been "decided in principle. The specific make-up and start of its work will be agreed upon at the upcoming trilateral meeting in Baku", Fadeev said.

    Realisation of the project will strengthen Russia's economic and geopolitical positions, contacts with countries in the Persian Gulf and the Indian Ocean, Gennadi Fadeev said.

    And added that the construction of the new railway in the territory of Iran will let Russia attract Russian suppliers and contractors to the construction and service of the new railway. Additional transit cargo flows will appear, the opportunity will arise for developing the railway and the accompanying infrastructures to handle Europe-Asia flows of cargoes.

    Fadeev said that capital-redemption risks are minimal because Iran "pays the most serious attention to the development of the railway infrastructure as part of the effort to develop its national economy".

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