Iranian Ambassador to Armenia Mohammad Raiesi believes that, due to long-term efforts, Armenia would be an excellent corridor between the Persian Gulf and the Black Sea.

The construction may last a little longer. However, it is common knowledge that communication has serious influence on an economy, Mr Raiesi told a press conference on the impact of lifting sanctions against Iran on the region and on Armenian-Iranian relations.

Armenia and Iran have signed numerous projects, which have not, however, been implemented. According to Mr Raiesi, the projects will prove beneficial to the economy.

Among the projects are an electric energy exchange program, a hydro-power plant project in Meghri, North-South corridor construction project and others.

As to whether Iran is considering the Armenian corridor’ project as a future program, Mr Raiesi said that relevant talks have been held.

The project was estimated a US $3.2bn. It is railway project awaiting an investor. Armenia’s Ministry of Transport and Communication has held a number of meetings to discuss the project. A number of talks have been held, but no serious investors have been found, the Iranian ambassador said.