S. Koreans Willing to Invest in Iran’s Rail Projects: Official


S. Koreans Willing to Invest in Iran’s Rail Projects: Official

TEHRAN (Tasnim) – An economic delegation from South Korea has paid a visit to the Islamic Republic to invest in the country’s rail projects, CEO of Iran’s Construction and Development of Transportation Infrastructure Company (CDTIC) Ali Nourzad said.

Nourzad added that in a meeting with the South Korean delegation in Tehran, he has stressed that CDTIC welcomes foreign investments and is willing to see foreign investors actively work in the Iranian market and benefit from the investment opportunities in the country.

He further pointed to the willingness of South Koreans to participate in a railway project linking the southeastern Iranian cities of Chabahar and Zahedan, noting that a memorandum of understanding (MoU) has been signed between Iran and India to carry out the project.

The Iranian official said South Korea can participate in the project by establishing a joint company with India.

According to Nourzad, the Rasht-Astara railway project is also another worthwhile investment opportunity for foreign countries.

When finished, it will connect the rail networks of Iran and Azerbaijan through the border city of Astara.

The entire project constitutes part of the International North-South Transport Corridor (INSTC), which is a multipurpose route for the transit of goods between Iran, Russia, Europe, India and Central Asia via shipping lines, railroad and land routes.

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