MNA – Finance for the construction of Rasht-Astara Railway was finalized by the Republic of Azerbaijan.


Deputy Islamic Republic of Iran Railways for Transport Economy and Planning Affairs Nourollah Beiranvand made the above remark and revealed the commissioning of modern startups in the railway and said, “supply chain of transport services is effective using capacity of information technology (IT).”

Turning to the requirement of rail transport industry of the country to set up startups and said, “electronic business environment and use of IT sciences in transport business are essential, for, supply chain of transport services will act effectively using the capacity of information technology.”

Given the above issue, Islamic Republic of Iran Railways has put launching modern startups a top agenda, the issue of which will be taken into consideration, he maintained.

Elsewhere in his remarks, Beiranvand pointed to the signing and sealing contract to finance €3 billion worth of credit for the provision of rail wagon and added, “in fact, conclusion of financing contract was signed between Export Insurance Institute and Trade Promotion Organization of Russia with the aim of activating capacity of domestic wagon manufacturers and establishing constructive interaction with the Russian companies in this respect.”

Major portion of this amount will be provided available to the privately-funded rail transport companies, he said, adding, “orders are made within the framework of a consortium including Russia firms and Iranian wagon manufacturers as joint venture (JV).”

Wirth regard to the construction of Rasht-Astara Railway, he said, “terminal for the construction operation of Rasht-Astara Railway is underway at the direct investment of Azeri party. This railway is the main pivot of development of North-South and South-West corridor. Once this railway is put into operation, giant steps will be taken in the field of promoting goods transport and transit from India to Russia and vice versa.”

The planning deputy of the Islamic Republic of Iran Railway also revealed the finalization of Azeri’s financing contract, worth €500 million, inked between Iranian and Azeri ministries of Economic Affairs and Finance.

The above-mentioned contract will be signed and sealed in very near future, he concluded.