Additional $ 4 bln needed for development of North-South transport corridor

Baku. 12 July. REPORT.AZ/ Additional finds in the amount of $ 4 billion needed to complete the North-South International Transport Corridor, railway project in the Southeast-Baluchistan area of Iran.

Report informs citing the Iran’s Financial Tribune, Iranian politician and academic and Minister of Roads and Urban Development Abbas Akhoundi said.

"It's a big and expensive project. This railway begins in the Chabahar region and extends from Zahedan (province of Baluchistan), Zabul and Birjand (the center of South Khorasan Province). This project will activate the work of the North-South International Transport Corridor, "he added.

Notably, North-South International Transport Corridor is designed to deliver cargo from India and the Persian Gulf region to Russia, Western Europe, Baltic and Scandinavian countries through Iran, Azerbaijan and Russia.

Iran has signed a contract with India in 2016 to build a railroad project. India's state-owned IRCON has agreed to build a 500-kilometer-long railway from Çabahar to Zahedan. 1,6 bln USD allocated for the construction of this part.