Iran intends to attract investment for the railway project in Turkey

Almaty. March 30. Silkroadnews - Iran plans to attract foreign investment for Tabriz-Bazargan-Kars railway construction project, the head of East Azerbaijan Iranian province department of roads and urban development Tohid Akhlaghi said, Trend reports.

According to him, the feasibility study (FS) on the railway project, which will link the Turkish Kars with the Iranian Tabriz, was prepared the last Iranian calendar year (ended March 20).

He noted that the necessary licenses for the project will be received during this Iranian calendar year.

The head of the department also said that his department is working on finalizing the agreement on the construction of Tabriz-Bazargan highway, which will be implemented with the participation of Turkish investors.

Turkish company “Bergiz” will finance 65% of the construction works under the project with the rest funded by the government of Iran. The project is estimated to become about two billion dollars’ worth.