China building railroads in Iran as part of Belt and Road initiative
2018-01-05 09:43:03 source：The Times of Central Asia
January 4, 2018
BISHKEK (TCA) — China Civil Engineering Construction Corp has signed a contract worth 3.53 billion yuan ($543.6 million) to build a 263-kilometer railroad in Iran, Iran’s Financial Tribune reports.
The Chinese company signed the contract with Iran’s Construction & Development of Transportation Infrastructures Company, the Chinese The Global Times daily reported.
Following the removal of nuclear-related sanctions against Iran, the country has attracted unprecedented Chinese funding for various infrastructural projects, including in the rail sector.
Chinese state-owned investment arm CITIC Group recently established a $10 billion credit line and China Development Bank is considering $15 billion more.
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