Nearly seven months have passed since the signing of a €1.6 billion contract between Iran and Russia for the construction of the Rasht-Astara Railway, Kheirollah Khademi said, adding that a major part of the technical issues of the project has been finalized.
A contract to design and construct the Rasht-Astara Railway was inked in April 2023 in a ceremony attended by the presidents of Iran and Russia, he noted.
The deputy roads minister put the ceiling of the contract signed between Tehran and Moscow for the construction operation of the railway at €1.6 billion, adding that the amount will be financed by the Russian Federation.
After conducting the feasibility studies, the precise investment rate will be determined for designing and constructing the railway, he stated.
The contract includes general and exclusive terms and conditions, requirements of the employer, and structure of the cooperation in the fields of costs, scheduled program, etc, he noted.
After holding several expert-level technical meetings by experts from the two countries, the roadmap was provided for accelerating the construction operation of the railway and agreements were signed between the two sides in this regard, he went on to say.