Economy, Domestic Economy
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Iran-Turkmen-Kazakh Railroad Ready

Iran-Turkmen-Kazakh Railroad ReadyIran-Turkmen-Kazakh Railroad Ready

The railroad connecting Iran to Turkmenistan and Kazakhstan will be inaugurated on December 3 in the presence of the presidents of the three states, Iranian Railroad Organization official, Mohammad Gharavi said Sunday.

According to IRNA, Iran has allocated 1,400 billion rials (above $52 million) for the project. Once completed, the project is to cut short by over 600 kilometers the distance for international transportation companies from Central Asia to Europe and the Persian Gulf region.

Over 82 kilometers of the railroad run through Iran with 700 kilometers going through Turkmenistan and 120 kilometers in Kazakhstan. It will also shorten the time of transportation and transit of goods by 48 hours.

The incumbent administration seeks to expand the domestic railway in a bid to improve its relations with its neighboring countries. The budget for the Islamic Republic of Iran Railways in the current year, which started March 21, stands at about 30 trillion rials, and it's hoped that the government doubles the amount by next year, Mohsen Pourseyed Aghaie, the CEO of Iran Railways said, as CHN reported on Saturday.

 

Financialtribune.com