(MENAFN) Officials in Iran announced this week that India will finance the export of about 150,000 tons of standard rail tracks to the Persian country, Iran Daily reported.
India has created a special mechanism to support the export of rail tracks to Iran through a 'full finance' scheme, the deputy director of Iran Railways Organization (IRIR) said.
Last year, India has signed a contract worth more than USD233 million with Iran for the export of rail tracks by companies including Steel Authority of India (SAIL).
Based on the original contract, Indian companies would provide Iran with enough standard rail tracks to set up a network project spanning for over 15,000 kilometers.
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