Iran allocates $1.28bn for 420km of railroad

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Source:  www.constructionweekonline.com

Iran Railways, the National Development Fund, and the Industry, Mine and Trade Ministry have signed a trilateral agreement to allocate around $1.28bn to the railway industry, according to a senior executive.

Iran Railways managing director Abdol-Ali Saheb-Mohammadi said that about 420km of railroad will be constructed by the end of the Iranian calendar year (March 20, 2013), adding that 10 new locomotives will come on stream in near future.

“Some 480 million euros and one trillion rials have been invested in the project, aimed at creating 750 direct jobs and 3000 indirect jobs,” Fars News Agency quoted Saheb-Mohammadi as saying. More info

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