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Iran Bids $3.7B for Joint Railway Project with Russia

© Sputnik / Sergey Subbotin / Go to the mediabankTrain operation starting on the Yandyki-Olya railroad stretch, crossing the Astrakhan Region. It is part of the North-South transnational transport corridor, which will link Russia with Iran, India and Southeast Asia (File)
Train operation starting on the Yandyki-Olya railroad stretch, crossing the Astrakhan Region. It is part of the North-South transnational transport corridor, which will link Russia with Iran, India and Southeast Asia (File) - Sputnik International
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TEHRAN (Sputnik) - Iran proposed a project to electrify a 3,000-kilometer (1,860-mile) railway line that might cost up to 3 billion euros ($3.7 billion), the company's First Deputy CEO Alexander Misharin said Monday.

"Three thousand kilometers, a big project, we agreed to sit down at the negotiating table and discuss it. This is a big project, we need to fold the financing scheme, this is 2-3 billion euros. This sounded several times today," Misharin, who visited Tehran as part of the Russian delegation, told Sputnik.

The company already has a contract signed, Misharin noted.

March 28, 2017. Russian President Vladimir Putin and President of the Islamic Republic of Iran Hassan Rouhani, left, during a meeting. - Sputnik International
Growing Iran-Russia Ties Developing Into Strategic Relations - Rouhani
"We really signed a contract for the electrification of the Garmsar-Ince Burun line, and it includes, among other things, access to other lines. Now we are considering what these will be: these will be the sections that are part of the North-South corridor, maybe this will be Tehran-Tabriz… This is the next stage of our discussion. Today the Iranian side proposed to expand our cooperation, we are ready to discuss it," he said.

On Monday, a delegation of Russian State Duma led by Speaker Vyacheslav Volodin and comprising representatives of state companies and ministries held an official visit to Iran. Within the framework of the visit, a meeting was held with the Iranian leader Hassan Roukhani and Speaker of Iranian parliament Ali Larijani.

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