17:28 - 18.02.2019

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February 18, Fineko/abc.az. Azerbaijan and Iran have not agreed yet on the conclusion of a credit agreement within the framework of North-South Project.

Economy Minister Shahin Mustafayev has stated that the issue of giving a $500 million loan to the Iranian side for construction of the Rasht-Astara rail section is still under discussion.

The Rasht-Astara railway line is part of transport corridor North-South to connect Northern Europe with South-East Asia, including connection of the railways of Azerbaijan, Iran and Russia. At primary stage it is planned to carry 5 million tons of cargo a year and in the future more than 10 million tons on Raht-Astara rail section.

At the first stage transportation via the North-South corridor will reach 6 million tons of cargo a year and then will increase up to 15-20 million tons.

Cargo will run through the territory of India and further through the Persian Gulf, Iran, Azerbaijan, and Russia in the direction of the Scandinavian states and Northern Europe for just 14 days.