Iran seeks more Russian, Indian funding for transport projects
A senior Iranian government official said the country may tap more funding from Russia and India for transport projects that could facilitate international cargo transit through Iranian territory.
Davoud Danesh Jafari, who chairs Iran’s newly-launched Transportation Development Fund, said on Saturday that Russian and Indian financing can be used for key railway projects in northern and southeastern Iran, Press TV reported.
“It is possible to tap foreign resources of partners like Russia and India for joint financing of these projects,” said Danesh Jafari.
The comments came after the official paid a visit to Moscow earlier this week to sign a trilateral memorandum of understanding (MoU) with Russia-based regional entities to boost cargo transit through the International North-South Transportation Corridor (INSTC).
The INSTC connects ports in southern Iran to major trade hubs in northern Iran via three main routes.
Danesh Jafari said Iran will seek to attract more investment from domestic and international investors to finish the construction of missing rail links on the INSTC, including a key railway project that connects the northern metropolis of Rasht to Astara, on Iran’s border with the Republic of Azerbaijan.
That comes as Russia has already pledged financial support for a number of transport projects in Iran, while India has also provided limited funding and equipment for a port development project in the southeastern region of Chabahar.
It also comes after a senior aide to Russian President Vladimir Putin traveled to Iran in mid-January to monitor the progress of work on the Rasht-Astara railway, a project to which Russia has committed funds.