(MENAFN) President of Iran Hassan Rouhani has stated that his country and Azerbaijan will sign an investment agreement for financing a railway segment inside the Islamic Republic during his late March visit to Baku.
"During my visit to the Republic of Azerbaijan, the deal on joint investment in Rasht-Astara railway will be signed," Rouhani told reporters in Tehran.
This comes as part of International North-South Transport Corridor which is meant to connect Northern Europe with Southeast Asia.
It will serve as a link connecting the railways of Azerbaijan, Iran, and Russia. At the initial stage, it is planned to transport 5 million tons of cargo per year through the corridor and over 10 million tons of cargo in future.
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