CD-Ring Telecom, a subsidiary of Russian carrier Synterra, and Iranmobin, a unit of Iranian operator TIC, have formed a joint venture.

C-Ring Telecom and Iranmobin will each hold 50 percent in the new company, Synterra announced. The new company will work with Azertelekom on developing a telecommunications ring around the Caspain Sea, for facilitating traffic between Europe and Asia and delivering internet traffic in the Caspian region.

The agreement was signed by company and government officials at an economic cooperation meeting in Tehran. At the same meeting, Russian national carrier Rostelecom signed an agreement with TIC on sharing international links.

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