Baku, Azerbaijan, June 14
By Khalid Kazimov - Trend:
A delegation from South Korean engineering and construction firm Daelim has visited a site in Iran for the construction of a 540-kilometer long railway connecting Esfahan and Khuzestan provinces.
The South Korean firm had earlier signed a €4.5 billion contract with Iran to build the railroad, Mehr news agency reported.
The deal was signed during South Korean President Park Geun-hye's early May visit to Iran.
Under the deal, the South Korean firm is expected to construct the 540-kilometer railway within four years.
The project will be financed under BOT (Build-operate-transfer) and BLT (build-lease-transfer) arrangements.
The railroad is expected to facilitate transferring about 6.7 million tons of fright in first year of its operation, which is projected to reach 22 million tons by 2036.