THE CEO of China’s Exim Bank Mr Sun Ping and the CEO of Iran’s Bank of Industry and Mining, Mr Ashraf Afkhami, signed a $US 1.5bn loan agreement in Tehran on July 25, which will finance the electrification of the 926km Tehran - Mashhad line.
ANGLO Belgian Corporation was awarded a contract from Iranian Islamic Republic Railways (RAI) to repower two AD43C locomotives in November.
IRANIAN Islamic Republic Railways (RAI) has awarded Italferr, the engineering subsidiary of Italian State Railways (FS), a contract worth around €12m to provide project management consultancy (PMC) services for the development of Iran’s first high-speed line.
RUSSIAN Railways (RZD) announced on December 13 that it has agreed a contract with Iranian Islamic Republic Railways (RAI) to electrify the 495km Garmsar - Inche Burun line in northern Iran.
AZERBAIJAN Railways (ADY) announced on November 7 that it has completed the 8.3km line from Astara to the Iranian border on the western shore of the Caspian Sea.
IRAN Railways (RAI) is set to receive fuel incentives from the government in return for increasing its freight and passenger volumes.