News ID: 211893
Published: 0353 GMT March 18, 2018

Rouhani: Tehran, Baku to ink railway deal during upcoming visit

Rouhani: Tehran, Baku to ink railway deal during upcoming visit

Iran and Azerbaijan will sign an investment deal for financing a railway segment inside the Islamic Republic during his late March visit to Baku.

According to Trend News Agency, Iran's Hassan Rouhani further told reporters in Tehran, "During my visit to the Republic of Azerbaijan, the deal on joint investment in Rasht-Astara railway will be signed."

The railway segment is a part of the International North-South Transport Corridor which is meant to connect Northern Europe with Southeast Asia. It will serve as a link connecting the railways of Azerbaijan, Iran and Russia. In the initial stage, it will transport five million tons of cargo annually but the figure will rice to over 10 million tons.

Three railroad segments connecting the northwestern city of Qazvin to the border city of Astara should be constructed within Iran to complete the North-South Corridor mega project.

The first segment, which links Qazvin and Rasht, will be completed in the coming months, according to Iranian officials.

The second segment connecting Rasht and Astara is expected to be constructed within three years with financial assistance from Azerbaijan.

The Astara-Astara segment which connects the two border cities of the same name in Iran and Azerbaijan is almost ready to come on stream.

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