Saturday, April 04, 2009

Construction: Armenia and Iran to build rail link funded by World Bank and ADB

Armenia and Iran have agreed to build a railway to link the two countries as part of a new transit route from Central Asia to the Black Sea, officials said.

The 470-kilometre (292-mile) railway will take five years and cost up to 1.2 billion dollars (892 million euros) to be financed by the World Bank and the Asian Development Bank.

"The railway construction will amount to a restoration of the historic Silk Road," Behbahani said at a press conference after signing a memorandum with his Armenian counterpart, Gurgen Sargsian.

"The railway will ensure transport links from South and Central Asia, the Far East, through Iran and Armenia's territory towards Georgia's Black Sea ports," Sargsian said.
Published by Mike Hitchen, Mike Hitchen Consulting
Putting principles before profits