73827
€3b German Finance on the Way
€3b German Finance on the Way

Iran: €3b German Finance on the Way

Iran: €3b German Finance on the Way

German finance worth €3 billion ($3.5 billion) for a railroad project in Iran will soon be finalized, a deputy roads and urban development minister announced.
"We are on the verge of finalizing a €3 billion foreign finance deal with a German company with €1.7 billion ($2 billion) of the funds related to projects belonging to the Ministry of Roads and Urban Development," Asghar Fakhrieh-Kashan also told ILNA.
Iranian officials have been holding negotiations with Germany for a foreign finance deal in recent months, but have yet to divulge any details.
According to Fakhrieh-Kashan, a German delegation will soon travel to Iran to finalize the finance deal.
"The funds will be used to electrify the Tehran-Isfahan railroad, purchase seven electric locomotives and transport the purchased goods," he said.
"There have also been talks for more than a year about a $10 billion foreign finance deal with Japan."  
The deputy minister noted that the Japanese have shown interest in a $9 billion Iranian project to build two railroads that connect the northeastern and northwestern points of Tehran to its southwestern and southeastern points respectively.  
"The project, which is predicted to be completed in seven years, will provide an underground exit for Tehran that will solve its traffic problem for good," he said.
According to Fakhrieh-Kashan, the share of Roads Ministry from the total of $55 billion worth of foreign finance approved in the Sixth Five-Year Development Plan (2017-22) will be about $12 billion.

Short URL : https://goo.gl/bfQHCm
  1. https://goo.gl/JY6Hbt
  • https://goo.gl/nLuUP3
  • https://goo.gl/yc53dU
  • https://goo.gl/9veCr2
  • https://goo.gl/fTnAsG

You can also read ...

Valiollah Seif
Governor of the Central Bank of Iran said on Wednesday anti-...
Nat’l Virtual Currency in the Offing
Months after the idea was first publicized, it seems that Iran...
5th Indian Wheat Cargo Arrives for Afghanistan in Chabahar
India’s fifth consignment of wheat to be sent to Afghanistan...
Presale Crosses  96,000 Gold Coins
The presale of Bahar Azadi gold coins priced at 14 million...
Spanish Foreign Minister Alfonso Dastis met with President Hassan Rouhani on Feb, 21.
Foreign ministers of the Netherlands and Spain are in Tehran...
Lexus’ New Crossover to Break Cover  in March
Lexus will pull the covers off of the production version of...
The government has required car importers to pay the higher tariffs announced in January.
The government has finally allowed the clearance of imported...
Bank Loans Top $100b in 10 Months
Banks and credit institutions doled out more than 4.62...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus