August 29, 2017

Russian bank to finance Iranian electrification scheme

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Russian bank to finance Iranian electrification scheme Gubler

ACCORDING to Mr Yusef Gheranpasha, head of Iranian Islamic Republic Railways’ (RAI) northern region, a Russian bank has agreed a €1bn loan to help fund the electrification of the 500km line linking Garmsar, on the Tehran - Mashhad main line, with Gha’em Shahr, Bandar Turkman and Gorgan.

Work on the project is expected to start in 2018 and take three years to complete. The contract with Russian Railways (RZD) covers the supply and installation of electrification equipment, seven sub-stations, and a power supply control centre.

Russia is financing the project from a $US 5bn line of credit for Iranian infrastructure projects.

The Gorgan line is connected to the Turkmenistan network via a link from Bandar Turkman to Incheh Borun.

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