Iran and India have signed a deal worth 2 billion US dollars for cooperation in the rail sector, a report said.
The agreement was inked Friday in India’s capital New Delhi in the presence of Abbas Akhoundi, Iran’s minister of roads and urban development, and his Indian counterpart Nitin Gadkari, the report said, according to Xinhua news agency.
The deal included a memorandum of understanding (MoU) worth 600 million dollars that will enable Iran to purchase locomotives and freight cars from India.
Akhoundi said the project will be fully implemented within three years.
For his part, Gadkari said the new trains will help transport passengers and freight in Iran.
“They will also be used in the Chabahar-Zahedan railroad to accelerate development of the Chabahar Port in line with India’s goal to connect to Central Asia and ultimately Europe through this Iranian port,” he said.
Iran and India, two major members of the Non-Aligned Movement (NAM), have increased efforts in recent years to establish closer trade ties.
India is one of the major customers of Iran’s crude oil.
The city of Kashmar in northeastern Iranian province of Khorasan Razavi was jolted for the…
A local spokesman for Iran's Islamic Revolution Guard Corps (IRGC) announced that 23 members of…
Iran's minister of economy has criticized the continued inclusion of Iran on the Financial Action…
The secretary of the Social Committee of the Iranian Parliament says the administration of President…
The spokesman for the military exercise "Security Martyrs," being carried out in the Southeastern Iranian…
Iranian President Masoud Pezeshkian, in a meeting with the head of the International Atomic Energy…