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FINANCE MINISTRY: OIL MAY BE SUPPLIED TO EUROPE THROUGH ARMENIA-IRAN RAILWAY
09:34, 08.08.2014Region: ArmeniaIranTheme: Economics
YEREVAN. - The main factor for viability of Armenia's Southern Railway
(Iran - Armenia) should be the transit of Iranian oil to Europe. This
is stated in the conclusion of the Armenian Finance Ministry to the
concept of the railway.
As noted in the design estimate documentation of the railway, 80% of
its traffic from the south to the north will make 30% of the transit
of Iranian oil to Europe.
However, a preliminary agreement on supplies with Iran has not yet
been achieved. In addition, it is unclear whether there will be this
volume stable for many years. For example, in 2011 Europe imported
only 18% of Iranian oil.
Earlier representatives of the railway structure at Transport Ministry
Ashot Shahnazaryan told Armenian News-NEWS.am that construction of
the railway will take six years with a maintenance of 50 years. The
works are expected to start in the first quarter of 2015. Construction
costs will amount to about $3.5 billion.
Supposedly the Armenian part of the Iran-Armenia railway will be
316-kilometer long and will run from the Iranian border (Meghri) to
the town of Gagarin near Lake Sevan, where it will connect with the
existing railway. Investors in the project have not been fully defined
Armenia News - NEWS.am
09:34, 08.08.2014Region: ArmeniaIranTheme: Economics
YEREVAN. - The main factor for viability of Armenia's Southern Railway
(Iran - Armenia) should be the transit of Iranian oil to Europe. This
is stated in the conclusion of the Armenian Finance Ministry to the
concept of the railway.
As noted in the design estimate documentation of the railway, 80% of
its traffic from the south to the north will make 30% of the transit
of Iranian oil to Europe.
However, a preliminary agreement on supplies with Iran has not yet
been achieved. In addition, it is unclear whether there will be this
volume stable for many years. For example, in 2011 Europe imported
only 18% of Iranian oil.
Earlier representatives of the railway structure at Transport Ministry
Ashot Shahnazaryan told Armenian News-NEWS.am that construction of
the railway will take six years with a maintenance of 50 years. The
works are expected to start in the first quarter of 2015. Construction
costs will amount to about $3.5 billion.
Supposedly the Armenian part of the Iran-Armenia railway will be
316-kilometer long and will run from the Iranian border (Meghri) to
the town of Gagarin near Lake Sevan, where it will connect with the
existing railway. Investors in the project have not been fully defined
Armenia News - NEWS.am