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Iran Pledges Support To Armenia In Construction Of Railway

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  • Iran Pledges Support To Armenia In Construction Of Railway

    IRAN PLEDGES SUPPORT TO ARMENIA IN CONSTRUCTION OF RAILWAY

    ARKA
    Jan 29, 2010

    YEREVAN, January 29. /ARKA/. Iran has expressed willingness to help
    Armenia in Iran-Armenia railway construction, Armen Movsisyan, Armenian
    energy minister and co-chair of Armenian-Iranian intergovernmental
    commission, said Wednesday after the commission's ninth session.

    At this meeting, both countries arranged to embark on the construction
    simultaneously - Armenia in its territory and Iran in its.

    Iran, who has a rich experience in exploiting railways, pledged also
    financial support to Armenia.

    Speaking about joint programs, the Armenian minister said that
    construction of oil pipeline, oil terminal and a hydro power plant
    in Meghri is planned as well.

    The railway will give Armenia an alternative way for transporting
    energy resources and other cargoes.

    Now Armenia has only one railway transportation link - through Georgia.

    Investments in the construction of the railway are estimated to total
    $2 billion.

    The World Bank and the Asian Development Bank have already expressed
    interest in co-financing.
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