According to Noorollah Beyranvand, the LC is available at the affiliated bank, ready to be paid to the contractor company in exchange for the development of the project.
Tehran–Qom–Isfahan High Speed Rail is the first truly high-speed rail project in Iran, currently under construction. The rail line would decrease travel times between Tehran and Isfahan, passing through Qom. It also connects Isfahan and Qom to Imam Khomeini International Airport, the most important international airport of Iran, making international air travel for passengers from Qom and Isfahan much more convenient.
Iran signed a contract with China Railway Group Limited, also known as CREC, to build this line. Although the contract was signed in 2015 with an estimated value of €1.8 billion, its scope and value are expected to expand.
The ex-Minister of Roads and Urban Development Abbas Akhoundi ordered the redesign of the route to make it more efficient compared to the previous design, including the relocation of the train stations in Tehran, Qom and Isfahan.
CREC is a Chinese construction company listed in Shanghai and Hong Kong stock exchanges. The major shareholder of the company is the state-owned China Railway Engineering Corporation.
- source : Mehrnews
