OREANDA-NEWS. October 20, 2008. Representatives of Russian Railways, Iranian Railways and Azerbaijan State Railways took part in a meeting of the working group on the project to build the Qazvin - Rasht - Astara railway, which was held in Baku, reported the press-centre of Russian Railways.

During the meeting, the working group confirmed the founding agreement and the charter of the joint venture, which will act as project manager for the construction of the Qazvin - Rasht - Astara railway line. It was also decided to establish a new working group to study the issue of tariffs and attracting freight.

“By November, Russian Railways will complete a feasibility study of the project. Following a discussion of the feasibility study, the working group will begin to examine the financing, cost and construction schedule of the project,” said Alexander Bobreshov, Vice-President of Russian Railways and head of the Company’s delegation in Baku.

On 29 March 2008, Vladimir Yakunin, the President of Russian Railways, led a Company delegation to Iran and signed a Memorandum of Understanding with Iranian and Azerbaijan Railways on the construction of a railway line between Qazvin - Rasht - Astara (Iran) - Astara (Azerbaijan). The project entails the construction of 400 km of railway lines and will facilitate the further cooperation between Iran, Russia and Azerbaijan within the North - South International Transport Corridor (ITC).

According to the protocol signed at the first joint meeting of the working groups composed of representatives from Russian, Azerbaijan and Iranian Railways on 19 June in Baku, the parties reiterated the need to establish a joint venture registered in Moscow.