The official noted that the Astara-Astara section (from Iranian city of Astara to the Azerbaijani city with the same name) of the railroad is under construction with a $60 million finance.
The upcoming talks, he explained, will serve building the remaining section from Rasht to Astara (Iran), which is 164 kilometers long.
The talks will be held during a trip to Baku by Minister of Finance Masoud Karbasian, Nazari said, adding the two sides have already agreed on the general framework of the deal.
The Astara-Astara section of the North-South Corridor consists of a 2 km railroad in the Iranian territory, an 8 km railroad in the Azerbaijani territory, and a bridge over the Astarachay River (which is being built jointly by Iran and Azerbaijan).
The strategic North-South Corridor, when completed, will cut the Mumbai-Moscow cargo travel time from 40 to 14 days.