This is stated in the conclusion of the Armenian Finance Ministry to the concept of the railway.
As noted in the design estimate documentation of the railway, 80% of its traffic from the south to the north will make 30% of the transit of Iranian oil to Europe. However, a preliminary agreement on supplies with Iran has not yet been achieved.
The construction of the railway will take six years with a maintenance of 50 years. The works are expected to start in the first quarter of 2015 and will amount to about USD 3.5 billion.
The Armenian part of the Iran-Armenia railway will be 316-kilometer long