Iranian Railway Company and Spain's Railway Infrastructure Management State Company signed a memorandum of understanding to expand cooperation in rail traffic management and modernization of signaling system as well as railway transportation network communication.
Russian Railways' export business RZD International and Islamic Republic of Iran Railways (IRIR) signed a €1.2-billion contract for the electrification of the 495 km route from Garmsar, Semnan Province on the Tehran–Mashhad main line to Incheh-Borun on the border with Turkmenistan.
Despite tight budget and little investment, the government was able to raise the share of railways in cargo transportation in Iran, setting the stage for achieving the ambitious targets of the sixth five-year development plan (2017-22).
Azerbaijan has expressed interest in investing in the construction of a freight terminal at an under-construction rail station in the Iranian city of Astara, as part of the North-South Transport Corridor, a high-ranking Iranian railway official said.
Russian Railways expects that the meeting of the presidents of Azerbaijan, Russia and Iran, Ilham Aliyev, Vladimir Putin and Hassan Rouhani, respectively, to take place on Tuesday in Baku, will give an additional momentum to the development of North-South international transport corridor, First Vice President of Russian Railways Alexander Misharin told Trend News Agency.