Iran bids $3.7B for joint railway project with Russia

Sputnik – Iran proposed a project to electrify a 3,000-kilometer (1,860-mile) railway line that might cost up to 3 billion euros ($3.7 billion), the company’s First Deputy CEO Alexander Misharin said Monday.

“Three thousand kilometers, a big project, we agreed to sit down at the negotiating table and discuss it. This is a big project, we need to fold the financing scheme, this is 2-3 billion euros. This sounded several times today,” Misharin, who visited Tehran as part of the Russian delegation, told Sputnik.

The company already has a contract signed, Misharin noted.

“We really signed a contract for the electrification of the Garmsar-Ince Burun line, and it includes, among other things, access to other lines. Now we are considering what these will be: these will be the sections that are part of the North-South corridor, maybe this will be Tehran-Tabriz… This is the next stage of our discussion. Today the Iranian side proposed to expand our cooperation, we are ready to discuss it,” he said.On Monday, a delegation of Russian State Duma led by Speaker Vyacheslav Volodin and comprising representatives of state companies and ministries held an official visit to Iran. Within the framework of the visit, a meeting was held with the Iranian leader Hassan Roukhani and Speaker of Iranian parliament Ali Larijani.