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Iran completes 70% of works conducted within Northâ€“South Transport Corridor project

01 November 2012 10:11 (UTC +04:00)

Baku. Ramil Mammadli â€“ APA. â€˜Iran has completed 70% of works on construction of Qazvin-Rasht-Astara railroad within the framework of Northâ€“South Transport Corridor projectâ€™, Iranian ambassador to Azerbaijan Mohsun Pakayin told APA.

To him, Iran has understood the importance of the project and it tries to accelerate the process: â€˜Construction works have already been finished between Qazvin and Rasht. We hope that the rest 30% of the project will be completed within the next yearâ€™.

Note that, the Northâ€“South Transport Corridor is the ship, rail, and road route for moving freight from South Asia to Europe through Central Asia, the Caucasus, and Russia. The route primarily involves moving goods from India via ship to Iran. From Iran, the freight moves by ship across the Caspian Sea or by truck or rail to Southern Russia. From there, the goods are transported by truck or rail along the Volga River through Moscow to Northern Europe. In 2001, Russia, Iran, and India signed an agreement to further develop the route. North-South transport corridor agreement was signed on September 12, 2000 by Russia, India, Iran and Oman. The project is estimated at $400 million. Certain work worth $35-40 million is planned to be conducted in Azerbaijan.