YEREVAN. - By the end of 2015, Chinese enterprises will present 2 proposals on the investments in Iran-Armenia railroad, Armenia’s Transport and Communication Minister Gagik Beglaryan said after a government session today. The Minister will familiarize himself with those proposals during his visit to China. “Actually many are interests in the project, but we have chosen 2 most promising proposals,” Beglaryan said.

As stated earlier by Ashot Shahnazaryan, director of the “Railway Construction Dirctorate” CJSC of the Ministry of Transport, the period of the construction will last 6 years, pay-off period 18 years and exploitation 50 years. The construction cost may constitute about $3,5 billion.

The Armenian part of the Iran-Armenia railroad will presumably be 316 km long and will pass from the Iranian border (Meghri) to the town of Gagarin not far from Armenia’s Lake Sevan, where it will be linked to the operating railroad. Project investors have not yet been completely determined.