The construction of a high-speed railway, extending about 400 kilometers from Tehran to Isfahan, started on February 26. The railway is projected to be built during the next four years at a cost of EUR 2.4 billion. Trains running on the Tehran-Isfahan railway can reach speeds of about 350 kilometers per hour. The project will save an estimated 550 billion rials (about USD 20 million) annually in fuel consumption.
Iran’s Bank of Industry and Mine will provide USD 1.8 billion of the total finance through China Export and Credit Insurance Corporation (SINOSURE). China Railway Engineering Corporation (CREC) will implement the project in cooperation with Iran’s Khatam al-Anbia Construction Headquarters.
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