OREANDA-NEWS. March 26, 2009. Russian Railways, the Iranian Railways Administration and Azeri Railways are to establish a joint venture for the construction of the railway line connecting Qazvin - Rasht - Astara and running between Azerbaijan and Iran, reported the press-centre of Russian Railways.

The parties plan to set up the jv in the near future and will take part on an equal footing, contributing equal amounts of the charter capital.

In November 2008, Russian Railways carried out a feasibility study and sent it to the Iranian Railways Administration and Azeri Railways. At their last meeting in March in St. Petersburg, all three sides approved the study.

Currently, the feasibility study and the founding documents are being finalised in accordance with comments made by the parties at the meeting. Upon completion of this work, the parties will meet once again to decide on when the jv will be set up, the beginning of the project documentation and actual construction.