TEHRAN – Iranian Roads and Transportation Minister Hamid Behbahani and his Armenian counterpart Gurgen Sargsian agreed in Yerevan on Friday to establish a railway that would connect the two countries to the Black Sea as a strategic transit route.

The 470-kilometer railway would take five years to build and cost up to $1.2 billion to complete and would be financed by the World Bank and the Asian Development Bank, he added.
According to Press TV, The railway is especially important to Yerevan as it would connect the northern lake city of Sevan to the southern city of Meghri, which borders Iran.
The Armenian official said, “The railway will ensure transport links from South and Central Asia, the Far East, through Iran and Armenia’s territory towards Georgia’s Black Sea ports,” a move that will enhance trade volume between the two countries.
According to IRIB, the Iranian minister also met Armenian Energy Minister Armen Movsesian, saying that the two countries are developing an all-out memorandum of understanding to reinforce economic cooperation.