Iran to invest over $937 mln in major railroad project
Tehran, Iran, Nov. 2
By Milad Fashtami - Trend:
Iran plans to invest 30 trillion rials (some $937.5 million based on the exchange rate of US dollar at the free market) in the West Railroad project.
Ali Shiri, the project manager, said that the West Railroad starts from the central city of Arak, and passes through western cities of Malayer and Kermanshah, before entering Iraqi soil through Khosravi border, Iran's IRIB News Agency reported on Nov.1.
"The railroad then divides into two paths on Iraqi soil; one of which goes to Syria and the other goes to Europe," he explained.
"Once the project comes on stream, annually 5 million passengers and 5.5 million tons of goods will be transported between western cities of the country," Shiri added.
"All the railroad projects are expected to come on stream by the end of the Sixth Five-year Socio-Economic Development Plan (2016 - 2020)," he said.