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TEHRAN, November 24. /TASS/. The cost of the contract for the electrification of the railway section Garmsar - Ince Burun between Russian Railways subsidiary and the Iranian railway company is estimated at €1.2 bln. The project will be financed by the state export credit of the Russian government to Iran, the company said.
During the talks, the heads of railways of Russia and Iran, held in January 2014 in Tehran, the Iranian side proposed Russian Railways to consider the possibility of participating in a number of infrastructure projects in the Islamic Republic of Iran.
Among the top priorities of the Iranian side was designated a project of electrification of the railway line Garmsar - Ince Burun (length - 495 km).
In order to promote the agreements reached at the present time Russian Railways and Iranian Railways (RAI) conducted a set of measures on the signing of a contract for the implementation of the said project.