Iran's Wagon Pars and the Iraqi National Rail Company (INRC) will sign before the week-end an agreement for the restoration of 1,600 rail carriages, a senior official told Zawya.
"INRC was in negotiations with Wagon Pars since last week, and an Iranian delegation visited the Muthanna Province, where the project will be located for the restoration and operation of the non-functional 1,600 rail carriages,'' said INRC spokesman Jawad Al-Kharsan.

Data show the Iraqi government has bought 40,000 tons of railway tracks over the past two years for USD 50 million, to upgrade the country's railway grid.

The spokesman did not specify the value of the deal, but a reliable source told Zawya it is likely to be worth about USD 55 million.

"INRC has to sign the contract before December-end, otherwise the allocated funds will go back to the Iraqi finance ministry, once the fiscal year ends on December 31," Al-Kharsan said.

By Zawya

 

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