India to Fully Finance Rail Deal with Iran

News ID: 796259 Service: Economy
خطوط ریلی

TEHRAN (Tasnim) – A senior official with the Islamic Republic of Iran Railways (RAI) said India has provided a credit line to finance its deal over the sales of standard rails to Iran.

To supply rails required for development projects in the country, an agreement has been signed with India, Saeed Mohammadzadeh, the deputy director of RAI for technical and infrastructure affairs, told the Tasnim News Agency.

According to the agreement, Iran will purchase about 150,000 tons of rail tracks, he said, adding that India has provided a credit line to fully finance the purchase.

Earlier this month, RAI and a French company, AREP, signed an agreement to develop Iran's main rail stations.

Locating new railroad stations in the Iranian capital of Tehran with the aim of improving rail access, and designing multimodal rail stations in the city in order to provide easy access to different rail stations in the urban and suburban transportation system are among the works to be carried out by the French company.

According to the agreement, the company should also develop rail transport systems in other major Iranian cities, like the holy cities of Mashhad and Qom.

    All Stories