Foreign partner to provide financial guarantee for Tehran–Qom–Isfahan High Speed Rail

Business Materials 15 May 2019 15:07 (UTC +04:00)

Tehran, Iran, May 15


Iranian Minister of Roads and Urban Development Mohamad Eslami has announced that the foreign side involved in Tehran-Qom-Isfahan High Speed Railway project would provide financial guarantee for its implementation.

"The presence of a foreign partner in Tehran-Qom-Isfahan High Speed Rail project will offer necessary guarantee to ensure financing of the project," he said, Trend reports citing IRNA.

Tehran-Qom-Isfahan High Speed Rail is the first truly high-speed rail project in Iran. As Mehr News Agency reported, China National Railway Locomotive & Rolling Stock Industry Corporation (CRRC) is participating in the construction of the railway.

At the meeting on May 8, 2019, the Iranian Cabinet approved reassignment the operating company of the project due to a suggestion of Ministry of Roads and Urban Development. Thus, Islamic Republic of Iran Railways (RAI) replaced Construction and Development of Transportation Infrastructures Company as the executive company operating the Tehran-Qom-Isfahan High Speed Rail project.