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Iran's To Draw USD 2.4 Billion Chinese Credit Line For Tehran–Isfahan High-Speed Railway

Infra News - Published on Wed, 12 Jun 2019

Image Source: globalconstructionreview.com
Mr Noorollah Beyranvand, the deputy dead of Iran Railways, announced that a USD 2.4 billion letter of credit was ready to be drawn for work on the high-speed rail line between Tehran and Isfahan. The money, being loaned by the Export-Import Bank of China, was ready to be paid to China Railway Engineering Corporation, the company due to carry out the work. Other companies involved are Khatam Al-Anbia Construction, which is owned by Iran’s Revolutionary Guard, Germany’s Siemens, and Italferr, the consulting arm the Italian national rail operator Ferrovie dello Stato.

Iran signed a contract with CREC to build Iran’s first high-speed line in 2015, and agreed the loan in July 2017. The project is expected to cost at least USD 1.8 billion.

Meanwhile, trains will travel on the 375 kilometer line at speeds of between 300 kilometer per hour to 350 kilometer per hour. Work on the scheme, which will link the Iranian capital with the Imam Khomeini International Airport, Qom and Isfahan, has already begun, and completion is set for 2021.

Source :

Posted By : Rabi Wangkhem on Wed, 12 Jun 2019
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