Bank Of Baku

Yerevan intensifies financial search for construction of Armenia-Iran railway

Yerevan intensifies financial search for construction of Armenia-Iran railway
# 11 November 2011 09:15 (UTC +04:00)
Baku. Habil Suleymanzadeh - APA-Economics. Armenia is in search of financing sources for the construction of the railway connecting Armenia with Iran. As Armenia’s transport and communications minister Manuk Vardanian stated, there are negotiations with Iran and China as well as other international donors and private investors.

During a recent visit to Moscow the Armenian President Serzh Sargsyan discussed the issue with Russian president Dmitry Medvedev. First steps have been taken already and the feasibility study is ready. For Armenia the railway will be significant economically and strategically.

Costs are estimated up to USD 2.5 bln.
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