Azerbaijan issues Iran $500M for railway project

Baku, Azerbaijan, Nov. 15 Trend: The construction of the Resht-Astara railway within the framework of the North-South Project will begin in the first half of 2008, head of Azerbaijan Railways CJSC Javid Gurbanov told reporters Nov.15. He noted that the Azerbaijani side has already allocated a loan to Iran in the amount of $ 500 million and the loan agreement is initialed by both countries.