YEREVAN. – Preparation for the construction of Iran-Armenia railway are underway, Armenian Deputy Minister of International Economic Integration Suren Karayan said in the parliament on Monday.

Armenia is to make a decision on the construction, he said, adding that the willingness of Eurasian Union member countries to work with Iran may help in ensuring profitability of the railway.

“Overall, our Eurasian Union partners are ready to be guided by these plans. This will help in making the future railway viable,” Karayan said.

The construction of the Iran - Armenia may amount to $3.2 billion with 60 percent of investments offered by Dubai-based Rasia investment firm. Construction is expected to last up to six years. According to the document, which the company introduced to the Armenian government last year, the construction could begin in 2016 and be completed in 2022.