(MENAFN) Russia will assign a total of nearly USD1.1 billion to Iran to electrify a railroad section and up to USD1.3 billion for power plant construction, based on the latest reports.
In detail, the 1st loan covers the electrification of the 326-km Garmsar-Incheboron railroad in central Iran, and the 2nd will finance up to 85 percent of the thermal power plant contracts.
Additionally, the railroad scheme will take three years to conclude, plus it'll include building 32 stations and 95 tunnels, significantly improving Russian transit through the Republic.
As far as the power station is concerned, the deal to build it was bagged by Technopromexport, a subsidiary of Russia's state corporation Rostec, and it'll have a capacity of 350 MW.
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