Iran-Turkmenistan-Kazakhstan Rail Link Project Gets Fund

The signing of funding agreements between the Asian Development Bank and Islamic Development Bank for the north-south railway project linking Kazakhstan, Iran, and Turkmenistan has significantly advanced the development of a 200km Kazakh border-Bereket section, aiming to enhance regional trade through a direct route connecting Europe and Persian Gulf ports.

February 26, 2010 5:58 pm | Last Update: August 10, 2015 6:01 pm

The north-south railway project linking Kazakhstan and Iran via Turkmenistan has received a major boost with the signing of two funding agreements.

The Asian Development Bank has pledged $225m to the Turkmenistan Government towards the development of the 200km Kazakh border-Bereket section.
In January, the Islamic Development Bank also signed a loan agreement for the 256km between Bereket and Etrek, brining its total contribution to $371m.
It is hoped that the rail link, running parallel to the Caspian Sea, will strengthen regional trade by providing a direct route connecting Europe and the Persian Gulf ports.
The total cost of the project, which started in 2007, stands at $1.4bn.

TAGS: bereket etrek railway project, iran kazakhstan rail connection, iran turkmenistan kazakhstan rail link project, middle asia rail corridor projects, turkmenistan railway news

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