Iran Inks Contracts With China, Russia for Railway Development
TEHRAN (Dispatches) - Iranian Road and Urban Development Minister Abbas Akhoundi announced on Wednesday that Iran has signed contracts with China and Russia to develop its railway system.
Addressing Iranian parliamentarians, Akhoundi said that Tehran has endorsed a contract with Moscow on the joint production of 6,000 wagons and another contract with Beijing to help the country use electric trains in the Tehran-Mashhad railroad.
He added that Iran has inked a contract with China worth $2.5bn to develop Iran's railway system.
Earlier in 2015, Iranian and Chinese officials finalized the deal to electrify the railway linking the capital city of Tehran to the holy city of Mashhad in Northeastern Iran.
"The 2-billion-dollar project for electrification of Tehran-Mashhad railway has been finalized and it has also received the (necessary) approval of the Iranian Economy Council and we are introducing the project to the Chinese Investment Insurance Company on behalf of the Central Bank of Iran," Manager of the Electrification Project of Iran's Railways Qassem Saketi told FNA following the endorsement ceremony in 2015.
Addressing Iranian parliamentarians, Akhoundi said that Tehran has endorsed a contract with Moscow on the joint production of 6,000 wagons and another contract with Beijing to help the country use electric trains in the Tehran-Mashhad railroad.
He added that Iran has inked a contract with China worth $2.5bn to develop Iran's railway system.
Earlier in 2015, Iranian and Chinese officials finalized the deal to electrify the railway linking the capital city of Tehran to the holy city of Mashhad in Northeastern Iran.
"The 2-billion-dollar project for electrification of Tehran-Mashhad railway has been finalized and it has also received the (necessary) approval of the Iranian Economy Council and we are introducing the project to the Chinese Investment Insurance Company on behalf of the Central Bank of Iran," Manager of the Electrification Project of Iran's Railways Qassem Saketi told FNA following the endorsement ceremony in 2015.