IRAN PLEDGES SUPPORT TO ARMENIA IN CONSTRUCTION OF RAILWAY

ARKA
Jan 29, 2010

YEREVAN, January 29. /ARKA/. Iran has expressed willingness to help
Armenia in Iran-Armenia railway construction, Armen Movsisyan, Armenian
energy minister and co-chair of Armenian-Iranian intergovernmental
commission, said Wednesday after the commission’s ninth session.

At this meeting, both countries arranged to embark on the construction
simultaneously – Armenia in its territory and Iran in its.

Iran, who has a rich experience in exploiting railways, pledged also
financial support to Armenia.

Speaking about joint programs, the Armenian minister said that
construction of oil pipeline, oil terminal and a hydro power plant
in Meghri is planned as well.

The railway will give Armenia an alternative way for transporting
energy resources and other cargoes.

Now Armenia has only one railway transportation link – through Georgia.

Investments in the construction of the railway are estimated to total
$2 billion.

The World Bank and the Asian Development Bank have already expressed
interest in co-financing.