Russia to invest in upgrading in Iranian railways
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The railways electrification project will be implemented in a short time in Iran with the financial support of Russia in the amount of $5 billion, Tasnimnews agency reported with reference to Iranian ambassador to Russia Mehdi Sanaei.
The diplomat said currently representatives of Iran and Russia are in talks to speed up the process of signing contracts for the implementation of this and other trade and economic projects.
Sanaei said that in the near future, Russia will provide Iran with two loans.
“The loans in the amount of $2 billion and $7 billion, respectively, will be allocated for the development of industry and improvement of the economic situation in Iran,” the ambassador said.
The diplomat went on to add that Russia will invest in the project for the electrification of the Garmsar-Inceburun railway and build a thermal power plant in Iran.
“In addition, Russia will build two blocks of Bushehr nuclear power plant,” said Sanaei. “The construction cost is $11 billion.”
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