TEHRAN, May 17. /TASS/. Russia and Iran could start building the last stretch of the North-South corridor in 2024, Russian Deputy Prime Minister Alexander Novak told reporters on Wednesday.

"Work to design it will start in the near future. I think that construction as such will start in a year," he said.

According to Novak, Russian companies have shown interest in the route and are ready to ratchet up shipments through the line to as much as 15 million tons of cargo per year by 2030.

"Agreements were reached today on the implementation of the western route with a capacity of 15 million tons by 2030. The potential capacity of this transport corridor will definitely expand. It could be 30 or 60 million tons, as trade will only increase, connecting the western parts of the Eurasian continent with the eastern part, creating opportunities for alternative transport corridors," the official said.

"Russian companies are interested in participating in these infrastructure projects, and they have already visited relevant facilities to jointly ensure the growth of such capacities," Novak said.

On May 17, Russia and Iran signed an agreement to jointly build a 170 km railway line between Rasht and Astara. The project aims to connect the overland sections of the International North-South Transport Corridor, which will increase the economic efficiency of the Trans-Caspian route. Russia hopes that the project can become an alternative to the Suez Canal, allowing for uninterrupted delivery of goods both in transit to Europe and from Russia to the Persian Gulf.