Iran daily reported that Asian Development Bank will announce an international tender in April to select a company to develop a feasibility project for the construction of Armenia and Iran railroad.

As per report, the taskforce, which included Armenian, Iranian and Russian experts met in Yerevan to discuss the ambitious project. Last year, the ADB granted USD 1 million to Armenia for conducting a preliminary feasibility study of the project, which was assigned to an Austrian company.

Mr Majid Asadi deputy road and transport minister of Iran said that the Iranian side has conducted a preliminary study on the Iranian 60 kilometers section of the proposed road.

According to some estimates, the construction of the 470 kilometers rail link, the bulk of it passing through Armenian territory will take at least three years and cost up to USD 2 billion.

Meanwhile, Armenia and Iran hope to attract much of the required funding from the World Bank and Asian Development Bank.

(Sourced from Iran Daily)