Tehran, Iran, March 7
By Kamyar Eghbalnejad – Trend:
China has agreed to cooperate on construction of the Shiraz-Bushehr railroad in southern Iran.
The 250-kilometer railway is expected to cost about 2.3 trillion tomans (about $700 million).
Iranian Transportation Minister Abbas Akhoundi attended the ceremony for inking the deal.
On the same day, Iran and China signed a deal on assembly production of 450 subway wagons for the Islamic Republic.
The contract was signed between the government-owned Industrial Development & Renovation Organization of Iran (IDRO) and CRRC Corporation, a Chinese publicly traded rolling stock manufacturer, in Tehran.
China has been among the most important investors in the Islamic Republic over the past two years, as several Chinese institutions, including Sinosure (export and credit insurance corporation) alongside with CITIC Trust and China Development Bank have agreed to put over $30 billion in the Iranian economy.