RusEnergy

BAKU, February 9. (RIA Novosti's Gerai Dadashev) - On Wednesday Baku is hosting a trilateral meeting of railway chiefs from Azerbaijan, Russia and Iran devoted to fulfillment of the North-South transport corridor project. The meeting focused mainly on creation of an international consortium to design, construct and exploit the Qazvin-Resht-Astara railway in Iran and to design the sector of railway between Astara in Iran and Astara in Azerbaijan that will connect the Iranian railway with the Azerbaijanian and via it with the Russian one. When opening the meeting Deputy Transport Minister of Azerbaijan Musa Panakhov said that "the North-South international transport corridor envisages creation of a new infrastructure, favorable conditions for attracting investment in the economies of the participating countries, for developing their transport and implementing new technologies." Azerbaijan has taken steps to restore the infrastructure and improve train traffic from the Russian till Iranian border, he said. The meeting will define the sphere of expertise for the joint venture set up for these purposes and work out its decision-making mechanisms, responsibility of its executive bodies, registration and location of its headquarters. The participants will also discuss financing of the project by the participating parties and by third countries as well. The decision to set up a consortium was taken at the meeting of the Russian, Iranian and Azerbaijanian railway chiefs in May 2004 in Moscow.