Consortium Secures €700M Deal to Construct Border Railway in NW Iran
TEHRAN (Tasnim) – An Iranian-European consortium has undertaken to construct a railroad line in the Aras Free Trade Zone in northwestern Iran that will connect three border cities along the frontier between Iran, Armenia and the Republic of Azerbaijan.
Under a contract worth 700 million euros, the consortium will construct a 204-km-long railroad track between the border cities of Jolfa, Nordooz, and Qolibeigloo in northwestern Iran, an official with the Aras Free Trade Zone Organization announced Thursday.
During the first year of coming into service, the railroad is expected to allow for the transit of 1.53 million tons of cargo and 101,000 passengers, and the figures are expected to hit 10.76 million tons and 409,000 passengers in the twentieth year.
The railroad project will serve as a significant part of the north-south corridor.
The International North-South Transport Corridor (INSTC) is a multipurpose route for the transit of goods between Iran, Russia, Europe, India and Central Asia via shipping lines, railroad and land routes.