Turkmenistan has decided to terminate the contract for the construction of the railway signed in 2010 with Iran's Pars Energy company. It was noted that the Iranian company could not finish the project it was based in Turkmenistan for some economic reasons. This issue was discussed at the Council of Ministers convened under the chairmanship of President Gurbanguli Berdimuhamedov. Foreign Minister and Vice President Rashid Meredov said that they agreed to terminate the contract bilaterally after negotiations with the Iranian side.
President Berdimuhamedov approved the termination of the contract with the Iranian company and stated that they will build this project by their own means. Saying that the project they gave to Iran to his company is a part of the Kazakhstan-Turkmenistan-Iran railway line, the Turkmen leader said that the railway line project in question is a very profitable project not only for his own country but also for the countries of the region.
Iran's Pars Energy company agreed with the Turkmen side in 325 to build the Bereket-Etrek railway line, which has a total length of 696 kilometers, for 2010 million dollars. It was expected to pay $ 371,2 million from the Islamic Development Bank for the construction of the railway line, while the remaining $ 324,8 million of the cost of the project would be covered by Iran's Pars Energy company itself. The Kazakhstan-Turkmenistan-Iran railway line, whose foundation was laid in 2007, will connect the Central Asian region to the Persian Gulf. The line, which is expected to contribute to the landing of the countries in the region to the warm seas, will allow an increase in freight transportation.