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ADB To Extend Funds To Iran-Armenia Railway

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  • ADB To Extend Funds To Iran-Armenia Railway

    ADB TO EXTEND FUNDS TO IRAN-ARMENIA RAILWAY

    news.am
    Nov 6 2009
    Armenia

    Special Committee on realization of Iran-Armenia railway construction
    headed by Ashot Shahnazaryan, former head of the RA State Commission
    for the Protection of Economic Competition is set up. The RA Transport
    and Communication Minister Gurgen Sargsyan stated in RA National
    Assembly.

    "Funds from international donor organizations for the project
    implementation will be obtained. In particular, the talks with
    Iran are underway and already take effect. Deputy ministerial
    Armenia-Iran-Russia commission is already established," said Sargsyan,
    adding that the first commission session was held this July and the
    next might be in November if case of Iranian side accord. Besides,
    the agreement with Asian Bank on extension of funds for the
    implementation of industrial research is reached. According to the
    Minister, preliminary research was conducted that enables to preplan
    financial part, workload and financial institutions to negotiate with.

    Unlike Iran-Armenia railway project, Iran-Azerbaijan-Russia project
    is more realistic. The amount of financing is estimated at $7-8
    bln. The matter is that the most part of the route is already railed,
    and certain roads need to be constructed.

    From: Emil Lazarian | Ararat NewsPress
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