Iran in Talks Over High-Speed Rail Funding
TEHRAN (Tasnim) – Iran has held negotiations with China and the European countries to receive low-interest funding for the development of high-speed rail system in the country, Minister of Road and Urban Development Abbas Akhoundi said.
During President Hassan Rouhani and the cabinet members’ recent visit to Italy and France, talks have been held on the renovation of Iran’s railroad industry, Akhoundi told reporters on Sunday.
He noted that Iran tries to obtain the modern rail systems under a hire-purchase method, provided that the equipment are made inside the country.
Last week, governor of Iran’s province of Khorasan Razavi said a contract has been struck with China to electrify an Iranian main line, which runs from capital Tehran to the northeastern holy city of Mashhad.
The contract has been finalized during Chinese President Xi Jinping’s official visit to Iran earlier in January, Alireza Rashidian had announced.
The Iranian President Hassan Rouhani’s administration, which took the office in August 2013, has ramped up efforts to boost the country’s railroad industry.