Armenian minister of transport discusses construction of North-South railroad with chief of Russian Railroads

Armenian Minister of Transport Manuk Vardanyan met the President of the Russian Railroads Vladimir Yakunin in Moscow and discussed construction of the North-South railway, News Armenia cites the press-secretary of the ministry Susanna Tonoyan.

They also discussed the Vanadzor-Fioletovo railway, financed by the South Caucasian Railway. They talked on financing of the project.

Vardanyan presented the projects of establishing a free economic zone and a logistical center at the international airport of Zvartnots.

North-South railway (Iran-Armenia) will allow Armenia to use an alternate transport line for energy resources and other goods. Armenia has railroad access to other countries only through Georgia.

Preliminary estimations say that the project requires $2 billion of investments. The World Bank and the Asian Bank of Development show interest in the project.

Armenia established an agency for construction of the North-South railway. It is responsible for construction and search for financing of the project.