Tehran, Moscow Sign €1.2b  Railroad Deal
Economy, Domestic Economy

Tehran, Moscow Sign €1.2b Railroad Deal

Russian Railways’ export business RZD International and Islamic Republic of Iran Railways signed a €1.2 billion contract on March 28 for the electrification of the 495-km route from Garmsar on the Tehran–Mashhad main line to Incheh Borun on the border with Turkmenistan, Railway Gazette reported on Wednesday.  This builds on an initial agreement signed in November 2015. The scope of the work includes undertaking electrification, track laying, signaling and telecoms enhancement to increase the route’s capacity. It also covers the supply of maintenance vehicles and electric locomotives and extension of technical assistance in the first year of electrification. The work is scheduled to take four years and will start as soon as the governments finalize a €1 billion Russian export loan, which is to be repaid over five years with a 2.77% annual interest rate.   A memorandum of understanding has also been signed, which could see RZD International and IRIR use the project as a basis for cooperating in other sectors.


Short URL : https://goo.gl/RqWxGY
  1. https://goo.gl/acRIat
  • https://goo.gl/7YJfH9
  • https://goo.gl/mQ3T0u
  • https://goo.gl/hWnDTU
  • https://goo.gl/WYoinI

You can also read ...

Qatar, Oman Becoming Iran's New Trade Gateways
Iran is working to curb its trade ties with the UAE, replacing...
Connectivity Central to Iran-India Future Ties
Iranian President Hassan Rouhani’s recent state visit to India...
Exports to Thailand, Indonesia See Biggest Rise
Iran’s exports to Thailand and Indonesia, crude oil excluded,...
Renewed Efforts to Sideline US Dollar in Foreign Trade
Months after a meeting between Iran’s Leader Ayatollah Seyyed...
Shahid Rajaee Port’s Phase 3 Launch on Wed.
President Hassan Rouhani is scheduled to break ground on Phase...
SAIPA Mulling Options to Replace Pride
Reports from the SAIPA Group show that the second major local...
Rial Gaining Ground
Rial continued its gain against the US dollar in Tehran's...
Export Billet Prices Climb Amid Higher Offers, Transactions
Iranian export billet prices went up by $5-15 per ton on an...

Add new comment

Read our comment policy before posting your viewpoints