New Armenia-Iran railway to cost $1bln

There is a strong desire to carry out the project, said the Armenian official, adding, "We are trying to find an investor to complete the project."

At present, there exists a railroad between Iran and the former Soviet republic but since it passes through the Nakhichevan, a controversial area between Armenia and Azerbaijan Republic, it is not currently in use, the minister added, the Persian service of ISNA news agency reported.

Economic experts believe that given the possible resolution of the dispute between Armenia and Azerbaijan over the Nagorno Karabakh region, the building of the new railway would be uneconomical. IranMania