Iran-Turkmenistan-Kazakhstan Rail Link Moves Ahead

25 February 2010 (Last Updated February 25th, 2010 18:30)

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 secti

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.