IRAN TO RECEIVE $250M IN ELECTRICITY FOR ARMENIA RAIL LINK

Moj News Agency
June 22, 2009 Monday
Iran

Tehran is shouldering the majority of the cost incurred in building
the 470-kilometre line and is seeking funding from the Work bank and
Asian Development Bank. However Armenia has agreed to pay its share
of the cost by supplying Iran with electricity. No further details of
the arrangement are currently available. Tehran hopes to complete the
line by 2014. The railway will run 470km from the city of Sevan in
northern Armenia to the border with Iran. A 60km spur into northwest
Iran will connect the cross-border line to the existing Iranian rail
network. Iran has reached several similar bilateral rail deals with
another of its neighbors in recent months, agreeing in March to build
a cross-border rail link with Azerbaijan. 2009/06/22