Friday, 22 September, 2017

Russia ready to finance Rasht-Astara railway construction

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Russia is ready to take part in financing the Rasht-Astara railway’s construction as part of the International North-South Transport Corridor, First Vice-President of Russian Railways Alexander Misharin told reporters in Baku Nov. 25.

He said the Russian Railways already received a business plan, studied it and prepared proposals, which will be introduced to the Azerbaijani and Iranian sides in the near future.

Misharin noted that the Russian Railways offers its services in supplies, co-financing of the railway’s construction, establishment of transshipment centers and supplies of other equipment needed for the construction.

He didn’t specify the amount of the funds that the Russian Railways is ready to provide to co-finance the project.

The International North-South Transport Corridor (INSTC) will connect Northern Europe with Southeastern Asia, as well as link railways of Azerbaijan, Iran and Russia.

The corridor is planned to transport 6 million tons of cargo per year at the initial stage and 15-20 million tons of cargo in the future.

Source: Trend news agency

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