Azerbaijan agreed to offer Iran a USD 500 million credit line for the financing of Rasht-Astara railway project, Iran’s Minister of Communications Mahmoud Vaezi told Trend. “Rasht-Astara railway project is expected to need USD 900 million-USD 1 billion of investment, of which USD 500 million will be financed through an Azerbaijani loan,” Vaezi said.
Rasht-Astara section, as part of Qazvin-Rasht-Astara railway, is currently under construction, and, according to Iran’s Gilan province Deputy Governor Mohammed Houssein Asgarean, Qazvin-Rasht railway will be launched this year.
“Iran has completed the Qazvin-Rasht section by 92 percent and the remaining needed rails are expected to be laid in the near future. The Qazvin-Rasht project is expected to be completed by late 2016,” Mahmoud Vaezi said.
Last week, the authorities launched the construction of the railway bridge over the Astara River, that will be completed by the end of 2016. The railway bridge will have a 82 m length and 10 m width.
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