Azeri FM: Baku ready to finance Iran railway construction

IRNA – Azerbaijan is ready to provide Iran with loans to help the country complete construction of the Iran segment of the North-South Transport Corridor railway, Azerbaijan Minister of Foreign Affairs Elmar Mammadyarov said.

‘All sides involved in completing the transport corridor are interested in this project,’ Mammadyarov told reporters on Monday.

‘Iranian, Azeri and Russian presidents will also discuss the issue during their upcoming trilateral meeting in Tehran,’ he added.

‘Not only parties involved in the project, but also exporters like India and Vietnam also have special interest in the project,’ he said.

The Azeri minister of foreign affairs went on to say that the railway will connect Bandar Abbas in southern Iran, on the Persian Gulf, to Saint Petersburg in Russia.

During a ceremony held in the Azeri capital on Monday to inaugurate the Baku-Tbilisi-Kars Railway, the Republic of Azerbaijan President Ilham Aliyev urged completion of the transport corridor.

Aliyev also expressed Azerbaijan readiness to provide other countries involved in the project with financial and technical supports.

The idea of launching the North-South Transport corridor was first in 1993 and a related agreement was signed by Iran, Russia and India in 2000.