Iran ready to finance construction of its part of railway to Armenia –minister

Iran ready to finance construction of its part of railway to Armenia –minister

YEREVAN, December 4. / ARKA /. Iran is ready to finance construction of its own section of a 160 km railway to Armenia, Armenian energy minister Armen Movsisyan said today to a parliament Q&A session.

According to the minister, the Iranian side is ready to begin the construction once Armenia finds investors for the construction of a part of the facility running in the Armenian territory.

Movsisyan also said the work for a $1.5 million worth feasibility study of the project (financed by Asian Development Bank) was almost  over. 
According to expert estimates, the cost of this project is $1.7-$2.8 billion.  During December 2 visit to Armenia Russian president Vladimir Putin, described this project as financially complicated, but feasible.

Currently, Armenia has a railway leading to neighboring Georgia. A railway to Iran will open for it an alternative route for transportation of energy and other commodities. -0-

18:29 04.12.2013

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