Iran's Ministry of Transport and the German company Regierungsbaumeister Schlegel signed a contract on a project to build high-speed railway trains following the Tehran-Meshed route, Iranian television reported
The project will be implemented within five years. A total of $10 billion will be invested for the implementation of the project. "No rails will be used for construction of the railway. Magnetic path length of 900 kilometers will be laid," said Transport Minister Hamid Behbehani said.
The train will run the distance between Teheran-Meshed for less than three hours.
"This technology is used in Germany and for the first time to be used in Asia. Train's carrying capacity is 10-40 million passengers per year," Behbehani said.
The German company will allocate funds to the project. The invested funds via the BOT [Build-Operate-Transfer] system will be paid off within 20-30 years, Behbehani said.