MOSCOW — Railway chiefs of Azerbaijan, Iran and Russia have signed an agreement for construction of a railway line linking Qazvin (Iran), Rasht (Iran) and Astara (Azerbaijan), the press service of Russian Railways has reported.

The Qazvin-Rasht-Astara railway line will become a key component of the international north-south transport corridor. Currently, Russian Railways are negotiating over the possibility that Finnish railroads resume bulk paper-transportation to Iran.

Russian Railways is ready to assume commitments to finance a final feasibility study and business plan development as part of its share in the project. Construction is to be gradual. First, it will be completed in Azerbaijan, and afterwards in Iran, where at least 400 kilometers of railways are to be built. Funds to finance it will be allocated in installments by Russia, Azerbaijan, Iran, and other creditors.