Cost of Iranian-Armenian railroad to amount to up to $2.8 billion

The financing costs of the construction project of a railroad between Iran and Armenia range from $1.7 to $2.8 billion, the minister of Transport and Communications of Armenia, Manuk Vardanyan, said on Tuesday, newsarmenia reports. The minister explained that the estimates are based on a number of studies conducted by Armenian and Austrian companies.

Vardanyan also said that the Armenian side is currently negotiating financing arrangements with private companies in Iran, Russia and China.

The North-South is intended to connect Iran and Armenia and will become an alternative route for Armenia for transporting energy and other commodities. At the moment Armenia has railway communications only with Georgia.