Trade Promotion Center of Russia, the Russian Agency for Export Credit and Investment Insurance (EXIAR), and the Railways of the Islamic Republic of Iran signed a contract on Monday.
According to the contract, the Russian firms will provide 3 billion Euros for joint production of railroad wagons, locomotives, and the rail grid equipment.
“To develop the rail network of the country and the infrastructures, $28 billion is to be invested according to the six program of development, and currently with two contracts $5 billion of it has been put into effect,” said Abbas Akhoundi, Iranian Minister of Roads and Urban Construction, on the sidelines of the signing ceremony.
YNG/IRN 82767565