South Caucasus Railway (SCR) Closed Joint-Stock Company has the right to operate the Iran-Armenia railway, SCR General Director Victor Rebets told Armenian News-NEWS.am.

The aforementioned right is reinforced by a trilateral agreement, which was signed in early 2013 among the Transport and Communication Ministry of Armenia, the Rossiya investment company, and the SCR.      

The SCR parent company, however, has not yet decided on whether to participate in this project.  

So far, it has been decided that the CCCC Chinese company will take part in the construction of the railway.  

SCR has negotiated with the industrial palace of Iran concerning the organizational matters.  

As per Rebets, according to preliminary estimates, the project will cost more than $3 billion.