Kuwait asks for share in Iran-Armenia railroad project

Kuwait's finance minister voiced his country's eagerness to have a share in a railway construction project which would link Iran to Armenia."Our country believes that the transportation sector is of much importance, and that construction of Iran-Armenia railway would serve the interests of Kuwait and Armenia," the Kuwaiti minister said in a joint press conference with the Armenian deputy prime minister in Yerevan. The Armenian deputy prime minister mentioned that Kuwait has also voiced its interest in participating in the North-South Corridor Construction project as well. According to early estimates, $2 billion of investment is needed for the construction of the Iran-Armenia railway. The World Bank and the Asian Development Bank have already voiced interest in the project. The total length of the railway is 540 km - 60 km on Iranian territory and 480 km in Armenia. Feasibility studies came to an end earlier this year. Armenian Transport and Communications Minister Manuk Vardanyan stated last October that discussions of the project are moving forward step-by-step; the first step being the feasibility study and an assessment of the finances needed. Meantime, Russian Transport Minister Igor Levitin also stated last October that a research institute in Russia is working on a feasibility study for the project. A working group has been created consisting of specialists as well as deputy Ministers of Transport of Armenia, Iran and Russia.