The Russian side confirmed its willingness to work out the materials on the construction of the Rasht-Astara (Iran) railway section and submit proposals for possible conditions of financing and implementation of this project in the terms agreed by the sides, the document said.

Russia and Iran have also agreed to present in the three months’ period their companies, which have the potential and opportunities for the construction of a joint plant in Iran for the production of rails, including lengthy ones, which will correspond to the international technological level, according to the protocol.

The project also involves the transfer of technology between the countries.

The sides expressed interest in developing cooperation in the field of organizing railway transportation, designing and construction of facilities of the railway infrastructure, repair and maintenance of the rolling stock, reads the document.

The Rasht-Astara (Iran) railway section is a part of the International North-South Transport Corridor (INSTC), which will connect Northern Europe with Southeastern Asia, as well as link railways of Azerbaijan, Iran and Russia.

In particular, it is assumed that the Rasht-Astara (Iran) line will be built with the participation of Russia and Iran, and the Astara (Iran)-Astara (Azerbaijan) line will be built with the participation of Russia, Iran and Azerbaijan.