$1.3 Billion investment in Iran’s rail network

Iran Materials 1 December 2011 12:40 (UTC +04:00)

Azerbaijan, Baku, Dec. 1 / Trend M. Moezzi/

Iran will invest $1.3bn in its rail network this solar year(started on March 21), the managing director of the country's railways told Fars News.

Contractors building the new railways will receive $800 million (8 trillion rials) with the rest going to renovating and reinforcing the rolling stock, said Abdol Ali Saheb Mohammadi.

Work continues on expanding the Tazrej-Bandar Abbas freight line from two to 60 km, said Mr. Saheb Mohammadi. Completing the line will increase Iran's capacity for transport freight, he said.

Iran is currently building 7500 km of rail network.