A total of $1.2 billion will be spent on the construction of two sections of the railway with Azerbaijan. The minister of economy of Armenia, Vahan Kerobyan, told reporters about this on Thursday.
He explained that the largest respective project is the construction of a railway to Horadiz city, and that this could cost more than $1 billion.
Kerobyan added that another large project is the construction of a new railway at the Meghri city section of Armenia, and that this may cost about $200 million.
"Very little money will be spent for the construction of the section near Yeraskh [village of Armenia] from Armenia to Iran. We are talking about the repair of a railway that stretches for [just] several hundred meters," the minister noted.
He stressed that if the entire aforesaid railway project is to be put into operation, this will take several years.
As reported earlier, Prime Minister Nikol Pashinyan stated at Thursday’s Cabinet meeting of the government of Armenia that during his meeting in Brussels with the president of Azerbaijan, they had reaffirmed the decision and agreement on the construction of the Yeraskh-Julfa-Ordubad-Meghri-Horadiz railway.