The Iranian Energy Minister, head of the Armenian-Iranian intergovernmental commission Majid Namdzhu, said today that Yerevan and Tehran have agreed to hold discussions on the construction of the Iran-Armenia railway.
“There is an agreement to hold a discussion of various issues related to the construction of the railway, with the participation of all stakeholders, in Armenia or in Iran,” Namdzhu said after the signing of the Memorandum of Understanding on the results of the 11th meeting of the Committee held in Yerevan on 23 -25 October, ARKA reports.
The North-South Railway (Iran-Armenia) will become an alternative way for Armenia to reach out to the outside world. According to expert estimates, the project needs $1.7 to $2.8 billion. Construction of the railway is currently under discussion with Russia, Iran and China.
Currently, all rail transport from Armenia goes via Georgia, so the construction of the railway is of great importance for both the Armenian and Iranian sides. The World Bank and the Asian Development Bank have expressed interest in the project. The railway to Iran, which the Armenian authorities have declared a priority project, will open up an alternative way of transporting energy and other commodities. More info