Russia will allocate a loan of 1.3 billion euros for the construction of the Rasht-Astara road
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Russia will allocate an interstate loan in the amount of 1.3 billion euros for the construction of a section of the railway between the Iranian cities of Rasht and Astara. This was announced by Deputy Prime Minister of Russia Alexander Novak to journalists in Tehran, writes Interfax.
According to him, the total cost of the project will cost 1.6 billion euros. The length of the railway section between the cities is 162 km.
Novak also called this project an alternative to the Suez Canal. After its construction is completed, Russia, Iran and Azerbaijan will have “a through route for the possibility of delivering products both in transit to Europe and deliveries to Russia or from Russia to the Persian Gulf.” According to Novak, the volume of cargo turnover by rail will amount to 15 million tons per year, only transit traffic.
Today, May 17, in Tehran it was signed agreement on the construction of the railway section Rasht – Astara. The agreement was signed by the Minister of Transport of the Russian Federation Vitaly Savelyev and the Minister of Roads and Urban Development of Iran Mehrdad Bazrpash. Russian President Vladimir Putin took part in the ceremony via video link.
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