Russia will allocate 1.5 billion dollars to Iran for the construction and development of railways during the period until 2030, APA-Economics reports citing "Vedomosti."
According to the Russian Ministry of Transport, these funds will be used for the construction of the 164-kilometer line from Azerbaijan's border city of Astara to the city of Rasht in Iran, as well as for the electrification of the 495-kilometer-long Garmsar-Inche-Burun line.
Both directions are part of the North-South International Transport Corridor (ITC) established 20 years ago