Russia to allocate €1.3 billion state loan for the project of the Rasht-Astara railway section in Iran
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Deputy Prime Minister Alexander Novak said that Russia would allocate an interstate loan in the amount of €1.3 billion for the construction of the Rasht-Astara railway section in Iran. The total cost of the project is estimated at €1.6 billion. Today, May 17, Russian President Vladimir Putin, together with Iranian President Ebrahim Raisi, participated in the ceremony of signing an agreement on the construction of the railway via video link.
He told journalists that the Russian share in the interstate loan is 85%. “(Credit.- “b”) returnable during the payback period of this project,” said Mr. Novak (quoted by TASS).
According to him, the volume of cargo turnover by rail should be at least 15 million tons per year. “Today, a contract will also be signed between commercial companies for the implementation of this project, design will begin and, accordingly, I think that after the design is completed – it will take about a year – construction will begin,” he added (quoted by Interfax).
The Rasht-Astara railway section is part of the North-South International Transport Corridor, a route that allows Russia to gain access to Iranian ports in the Persian Gulf for trade with the countries of the Middle East and the Indian subcontinent. Railway section under construction planned put into operation by 2025.
More about the project – in the material “Kommersant” “How to get to Bandar Abbas”.
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