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Russia, Iran to increase transit by rail to 15 million tons by 2030 — Deputy PM

In March, the first deputy head of Russian Railways, Sergey Pavlov, reported that the estimated cost of construction was $1.6 billion

TEHRAN, May 17. /TASS/. Russia and Iran intend to increase transit by rail to 15 million tons by 2030, Russian Deputy Prime Minister Alexander Novak told reporters on Wednesday.

He clarified that last year the total volume of cargo turnover between the countries amounted to about 5 million tons, taking into account road transport and other routes.

"We agreed that our total freight turnover after the implementation of this project (construction of the Rasht-Astara railway section - TASS) will be at least 15 million tons per year by rail alone and this applies only to transit cargo. In the future, we will expand these capacities, and this project may become an alternative to the Suez Canal," Novak said after the signing ceremony of the agreement to build the Rasht-Astara railway section.

The Deputy Prime Minister reiterated that the construction project of the Rasht-Astara railway section is very important for Russia, Iran, the countries around the Persian Gulf, India and Pakistan, as it develops trade and economic cooperation and ties between the countries.

The document was signed in Tehran by Russian Transport Minister Vitaly Savelyev and Iranian Minister of Roads and Urban Development Mehrdad Bazrpash. The signing ceremony was attended by Russian President Vladimir Putin via video link and Iranian President Ebrahim Raisi in person.

According to the document, Moscow and Tehran will jointly finance the design, construction, as well as the supply of goods and services.

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.

In March, the first deputy head of Russian Railways, Sergey Pavlov, reported that the estimated cost of construction was $1.6 billion. According to Iranian estimates, the construction of the Rasht-Astara section will take four years. Pavlov did not rule out the possibility of the project being completed earlier.

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