14:39 GMT +316 October 2019
Listen Live
    Bereket Railway Station is an important crossroad of the Trans-Caspian Railway and North-South Transnational Railway

    Baku to Allocate $500Mln to Tehran for North-South Route Construction

    © Wikipedia / Balkan Wiki
    Get short URL

    Iranian Minister of Communication Mahmoud Vaezi said that Iran had finished 92 percent of infrastructure works along the Qazvin-Rasht route, which will be completed by the end of this year.

    BAKU (Sputnik) — Azerbaijan will give Iran a credit for $500 million to boost the construction of the North-South transport corridor, Iranian Minister of Communication Mahmoud Vaezi said.

    "The construction of the Rasht-Astara railway requires about a billion dollars of investment, $500 million of which will be allocated in the form of a loan by Azerbaijan. Azerbaijan’s credit will significantly accelerate the implementation of the North-South project," Vaezi said Friday, as quoted by the Azerbaijani Trend news agency.

    He added that Iran had finished 92 percent of infrastructure works along the Qazvin-Rasht route, which will be completed by the end of this year.

    The Qazvin-Rasht-Astara railway is part of the North-South Transport Corridor project, which aims to reduce the costs and the time of ship, rail and road deliveries to and from Russia, India, Iran, Azerbaijan and other countries located along the route.


    Moscow, Baku May Invest in Iran-Related Projects
    Azerbaijani President Sees Development of Baku-Moscow-Iran Cooperation
    Azerbaijan Wants to Tackle Terrorism with Russia and Iran's Help
    Azerbaijan Invites Iran to Join TANAP Gas Pipeline Project
    Rasht-Astara railway, Mahmoud Vaezi, Iran, Azerbaijan
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik