Baku, Azerbaijan, Nov.23
By Fatih Karimov - Trend:
A Chinese company will finance and build the Tehran-Hamedan-Sanandaj railway in Iran, which will extend 410 kilometer from north to west.
Ali Nourzad, Iranian Deputy Transport Minister, said the two sides have signed a preliminary agreement and will finalize the agreement in the near future, Iran's Fars news agency reported.
The report has not revealed the details about the Chinese company.
Chinese finance for Iranian projects has increased from $23 billion to over $50 billion.
Esmaeil Mahsouli, Iranian Deputy Energy Minister, said the Chinese finance will be used to implement industrial, development, and economic projects in the oil, gas, petrochemicals, water, and electricity sectors, Iran's Mehr news agency reported on November 15.
Iran and China has already agreed on $23 billion Chinese finance for Iranian projects, but the government made some suggestions to China, so that the volume of finance reached $50-52 billion, he explained.
Some $1.5-$2 billion will be invested in water and electricity projects, he noted.