Iran and Russia jointly plan infrastructure projects worth US$ 30 bn

Posted on 26th October 2015

Iran and Russia have jointly designed a package of projects for the Islamic Republic, the total value of which is estimated to be between $25 billion to $30 billion, a report said.

A mechanism to provide funds for the joint projects is also being prepared, Mahmoud Vaezi, Iran’s minister of communications and information technology, was quoted in the Press TV Iran report, according to Tradearabia news report.

The projects include an electrical train service from Garmsar in eastern Tehran to Inche Borun border town in the northeastern province of Golestan and the construction of a thermal power plant, he noted.

Russian Energy Minister Alexander Novak, heading a 50-member delegation, arrived in Tehran on Wednesday to discuss joint economic projects.

Russia has pledged to issue a credit line of $5 billion for joint projects with Iran, Vaezi said, adding that Russia plans to provide funds for two major pilot projects.

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