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 ...

USD at  41,000 Rials
After the US dollar’s recent bull run that pushed the value of...
 TCCIMA Secretary-General Bahman Eshqi speaking in Vienna on Nov.16
Iranian banks are expected to open their first branches in...
Iran has 9,000 online retail stores.
With the ever-growing developments in the World Wide Web,...
Tehran-Accra Expand Agro Coop.
Three memoranda of understanding were signed between Iran’s...
Tesla Roadster Speeds in Front of Electric Truck
Tesla Inc upstaged its own debut of an electric heavy duty...
Call for Cutting Red Tape to Cultivate Startups
One of the grim realities local startups usually put up with...
Whenever users send multiple photos or videos  they will be grouped into albums.
Messenger app Telegram received an update over the weekend,...
Imported Flat Steel Buying Thin Over Lower Local Prices
Buying activity in the Iranian flat steel import market was...

Add new comment

Read our comment policy before posting your viewpoints

Image CAPTCHA
Enter the characters shown in the image.

Trending

Googleplus