TEHRAN, May 17. /TASS/. Russian and Iranian presidents, Vladimir Putin and Ebrahim Raisi, are participating in the ceremony of signing an agreement on construction in the republic of the Rasht-Astara railroad section on Wednesday. Head of the Russian state joined the ceremony via video link.

Moscow and Tehran will jointly finance designing, construction, as well as supplies of goods and services, according to the document.

Some 170 km long, the Rasht-Astara line is designed to link land sections of the International North-South Transport Corridor, which will boost the economic efficiency of the trans-Caspian route. It is planned that the Rasht-Astara line will be built by Moscow and Tehran, while the Astara (Iranian city) - Astara (Azerbaijani city) line will be constructed by Moscow, Tehran, and Baku.

Putin noted earlier that the project is interesting not only to Russia and Iran, but also to all participants of global trade as from the viewpoint of logistics this will be a considerable addition to the Suez Canal and Black Sea straits.