Economy, Business And Markets

European Consortium Wins Major Rail Tender

European Consortium Wins Major  Rail TenderEuropean Consortium Wins Major  Rail Tender

Spanish engineering company Ineco, together with local companies Moshanir and Hexa, and the Italian engineering group Geodata, has won a tender put out by Islamic Republic of Iran Railways for the electrification of railroad between Tehran and Mashhad. The €12 million project, which is estimated to take 42 months to complete, entails design and supply of equipment needed to electrify the 1,000-kilometer rail link between the two major cities. It will be the longest railroad in Iran, Ineco’s news service reported. The electrified route is expected to cut the current 12-hour passenger travel time in half while increasing freight transport capacity. Iran has close to 1,000 kilometers of railroads.