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Official reveals details: Baku invest plan in Iran railways

Tuesday, March 21
A senior official of the Iranian railways organization has briefed Trend on the latest developments concerning Azerbaijanís plans to invest in the development of his countryís railway system in a bid to help the full activation of the International North-South Transportation Corridor.

Nourollah Beiranvand, the deputy for planning and investment at the Islamic Republic of Iran Railways, says the Azerbaijani officials have recently agreed to provide 60 million euros for developing railway facilities in Astara City (Iran).

According to the official, about a half of it is projected to finance the construction of a 1.4 kilometer-long railway in Astara as well as the railway station building.

The remaining half will go for the construction of four terminals of fuelling, general cargo, grain and containers, he said.

The official underscored that the annual capacity of the corridor for transferring goods is expected to hike by two million tons after finalizing the project for creating railway facilities in Astara city.

Elaborating on the details of the agreement, Nourollah Beiranvand added that the Azerbaijani side has also undertaken covering investment risks of the project.