Upon the MoU, the three countries, after establishing a joint company through " B O T ", using foreign and domestic banks investment, will build railroad between " Rasht, Astara in Iran to the city of Astara in Azerbaijan Republic.
Deputy head of Iran's Railroad National Company Mahmoud Reza Kaimanesh, Russian Deputy head of Railroad Company Alexander Bouberchev and Head of Azerbaijan Republic Railroad Company Husseinev headed their respective countries' delegations in the meeting and signed the MoU.
The three sides agreed on aforementioned company's statute. They are scheduled to meet in Tehran in May to finalize the document.