€3 billion German finance on its way to IranStaff Writer | October 9, 2017
German finance worth €3 billion ($3.5 billion) for a railroad project in Iran will soon be finalized, a deputy roads and urban development minister announced.
Investment Asghar Fakhrieh-Kashan:
Iranian officials have been holding negotiations with Germany for a foreign finance deal in recent months, but have yet to divulge any details.
According to Fakhrieh-Kashan, a German delegation will soon travel to Iran to finalize the finance deal.
"The funds will be used to electrify the Tehran-Isfahan railroad, purchase seven electric locomotives and transport the purchased goods," he said.
"There have also been talks for more than a year about a $10 billion foreign finance deal with Japan."
The deputy minister noted that the Japanese have shown interest in a $9 billion Iranian project to build two railroads that connect the northeastern and northwestern points of Tehran to its southwestern and southeastern points respectively. ■