Russia to open €3bln credit line for North-South Corridor: Iranian minister

Tasnim – Iran’s Minister of Roads and Urban Development Mohammad Eslami said Russia has decided to open a €3 billion credit line to finance the international North-South Transport Corridor (NSTC) which connects India to Russia via Iran.

Speaking to reporters before traveling to Russia, Eslami said he is going to discuss Tehran-Moscow cooperation in the railroad industry within the framework of the NSTC.

Unveiling plans for tight meetings with Russian, Indian, and Azeri officials during his trip, the Iranian minister said Russia has agreed to open a €3 billion credit line for development of the major railroad corridor project.

The NSTC concept was formalized by India, Iran and Russia in 2000.

The long corridor connects India to Russia through Iran’s southeastern port city of Chabahar.