ARMENIAN GOVERNMENT LAUNCHES ARMENIA-IRAN RAILWAY CONSTRUCTION

ArmInfo
2009-08-06 14:22:00

ArmInfo. Government of Armenia adopted a decision on Thursday to set up
CJSC Directorate for Railway Construction to organize construction of
Armenia-Iran railway. Armenian Minister of Transport and Communication
Gurgen Sargsyan says the company will be engaged in organizational
activity.

For his part, Prime Minister Tigran Sargsyan said the government hereby
launches construction of Armenia-Iran railway. The Directorate will
raise funds and organize construction. Earlier, it was reported
that the project will cost nearly $1.2 billion by preliminary
calculations. Iran is ready to provide nearly $440 million in terms
of a loan. The remaining amount Armenia is expected from Russia,
Asian Development Bank and World Bank.

Armenia and Iran signed memorandum on construction of direct railway
communication in April 2009. The railway will ensure Armenia’s
access to the Persian Gulf and Iranian ports. The railway will extent
470km, including 60 km in the territory of Iran and the remaining in
Armenia. The construction will take 3-4 years.

From: Emil Lazarian | Ararat NewsPress