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Iran, Italy Sign High-Speed Rail Deal

TEHRAN - RAME UIC: The agreement was formally signed during the visit of Renato Mazzoncini, CEO of Italys state railroad company Ferrovie dello Stato otherwise known as FS, and an accompanying delegation to Tehran, IRIR told Financial Tribune.

FS signed two other deals, one pertaining to scientific cooperation between the two rail companies and another for holding training courses for IRIR personnel.

The Italian company signed a preliminary agreement with IRIR in February to develop Irans railroad system. The deal includes up to €5 billion ($5.65 billion) in export credits from Italy for Iran.

Iran has 3,500 kilometers of railroads under construction. The countrys 20-Year Vision Plan (2005-25) stipulates that the number of passengers using rail transportation in the country will increase from the current 25 million to 65 million per year.


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