ADB TO EXTEND FUNDS TO IRAN-ARMENIA RAILWAY

news.am
Nov 6 2009
Armenia

Special Committee on realization of Iran-Armenia railway construction
headed by Ashot Shahnazaryan, former head of the RA State Commission
for the Protection of Economic Competition is set up. The RA Transport
and Communication Minister Gurgen Sargsyan stated in RA National
Assembly.

"Funds from international donor organizations for the project
implementation will be obtained. In particular, the talks with
Iran are underway and already take effect. Deputy ministerial
Armenia-Iran-Russia commission is already established," said Sargsyan,
adding that the first commission session was held this July and the
next might be in November if case of Iranian side accord. Besides,
the agreement with Asian Bank on extension of funds for the
implementation of industrial research is reached. According to the
Minister, preliminary research was conducted that enables to preplan
financial part, workload and financial institutions to negotiate with.

Unlike Iran-Armenia railway project, Iran-Azerbaijan-Russia project
is more realistic. The amount of financing is estimated at $7-8
bln. The matter is that the most part of the route is already railed,
and certain roads need to be constructed.

From: Emil Lazarian | Ararat NewsPress