Baku, Azerbaijan, May 24
By Khalid Kazimov - Trend:
Tehran and New Delhi signed a memorandum of understanding (MOU) on May 24 on financing a project for construction of a 610-km railway connecting the port city of Chabahar to the city of Zahedan in Iran's south-eastern province of Sistan and Baluchestan.
Managing Director at Iran's Construction & Development of Transportation Infrastructures Company Ali Noorzad has said the Indian side is expected to prepare a finance scheme for the project within the next four months, IRNA news agency reported May 24.
Noorzad added that the Iranian Ministry of Roads and Urban Development, the Ministry of Economic Affairs and Finance, as well as the Central Bank will study the finance scheme.
The project will contribute to a plan under which Iran's railroads will connect the Central Asia to international waters.
The MOU was signed as part of Indian Prime Minister Narendra Modi's official visit to Iran.
Heading a large political and economic delegation, Modi arrived in Tehran early May 23 on a two-day visit to strengthen the trade, investment and energy ties with Iran.