Domestic Economy
0

ESCO Commits to Deliver 5K Tons of Rails for Chabahar-Zahedan Project

ESCO Commits to Deliver 5K Tons of Rails for Chabahar-Zahedan ProjectESCO Commits to Deliver 5K Tons of Rails for Chabahar-Zahedan Project

Esfahan Steel Company has committed to provide 5,000 tons of rails for a major project connecting Chabahar Port in southeastern Iran to the city of Zahedan that borders Pakistan and Afghanistan.
An agreement to that effect was signed by Isfahan-based ESCO and Khatam al-Anbiya Construction Headquarters on Saturday, Fars News Agency reported.
In September 2019, the Iranian Cabinet decided to allocate €300 million for the railroad project located in Sistan-Baluchestan Province, from the National Development Fund of Iran, the country’s sovereign wealth fund. The decision came after the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei authorized the allocation.
The 610-kilometer railroad project got off the ground in the fiscal 2010-11, only to come to a halt for three years due to a lack of resources. The execution of the project resumed in the year ending March 2015, after a change of contractor. 

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com