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Russia will very actively participate in the construction of the Iran-Armenian railways. For this reason Moscow has created two daughter companies for Russian Railways: Rosjeldorproject and Zarubeshstroytechnologia. Armenia’s Minister of Transport and Communications Manuk Vardanian announced this at a press conference on June 28.

The first 31 km long segment of the construction should be approved during the visit of President of Russian Railways Vladimir Yakunin to Yerevan on July 1. It will cost around USD 100 million and the sum will be allotted by Russian Railways as well as Armenia’s state budget. Altogether the construction of railways between Iran and Armenia will cost about USD 1.8 billion according to Armenian estimates. 470 km will be constructed, 60 km on Iranian territory and the rest in Armenia. Construction is expected to last 5 years.