Russia to invest $5B in Iran
ILNA: Russia has announced readiness to open a line of credit, worth $5 billion, to finance projects in Iran, said Iran’s Roads and Urban Development Minister.
“I have found from the Asian Development Bank that Russia’s investment in Iran is possible,” said Akhoundi on the sidelines of his meeting with Russian Energy Minister Alexander Novak.
Details of 121 projects in transport, housing and urban development, worth $25 billion, have been introduced to 60 large international companies, including Russian companies, said Akhoundi noting that Iran and Russia can cooperate in the provision of sea, rail, and air transportation fleets.
The Russian transport minister will travel to Iran in December to attend the Iran-Russia-Turkmenistan-Kazakhstan meeting, Akhoundi said.
During the meeting, the Russian minister called for financing the Garmsar-Incheborun railway through establishing a joint bank, but the Iranian minister urged Russia to provide finance for the project. If the project is to be financed by the joint bank, implementation of the project will be delayed, Akhoundi said.
Russia was the 19th leading importer of Iranian non-oil goods in the first half of the current Iranian calendar year (March 21-Septembebr 22), according to Iran Customs Administration.
Iran exported $82.186 million of non-oil goods to Russia and imported $281.409 million of non-oil products from the country in the six-month period.