Economy, Business And Markets

$4b Needed to Complete Sistan Rail Project

$4b Needed to Complete Sistan Rail Project$4b Needed to Complete Sistan Rail Project

Minister of Roads and Urban Development Abbas Akhoundi said the government needs $4 billion to complete an under-construction railroad project in the southeastern Sistan-Baluchestan Province.

It is a “big and costly” project that “starts in Chabahar and extends to Zahedan, Zabol and Birjand”, he was quoted as saying by Roads Ministry’s news portal.

“It [the railroad] will help activate the International North-South Transport Corridor,” he added.

INSTC is an international corridor from India to Europe, passing through Iran, Azerbaijan and Russia. Iran signed an agreement with India in 2016 for the railroad’s construction.

India’s state-owned IRCON agreed to establish the 500-km rail line from Chabahar to Zahedan at a cost of $1.6 billion.

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