Armenia launches construction of railway to Iran

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Economy

06.08.2009, 22:59

The Armenian government has decided at its regular meeting today (August 6) to set up a special body to handle the construction of North-South railway that will connect Armenia with Iran.

YEREVAN, August 6, /ARKA/.The Armenian government has decided at its regular meeting today (August 6) to set up a special body to handle the construction of North-South railway that will connect Armenia with Iran.

Transport and Communication Minister Gurgen Sargsyan said the new body (Directorate) will be handling all organizational and preliminary work related to construction of the railroad towards the Iranian border.

Prime Minister Tigran Sargsyan said the decision means that the start to the construction of the railroad is given. He added that the Directorate will be dealing also with attraction of funds to back up the project.

The new railroad will provide Armenia with an alternative way to import energy resources and other commodities and an outlet to the rest of the world. Currently Armenian railways are linked only with railroads in neighboring Georgia.

According to preliminary estimates, the cost of this project is $2 billion. The World Bank, the Asian Development Bank, as well as Russia and Ukraine have shown interest in this project. -0-

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