Italy will build two high-speed rail lines valued at 4 billion euro in Iran

Almaty. April 18. Silkroadnews - The Italian company ITINERA will build two high-speed rail lines valued at 4 billion euro in Iran, IrTAG reports.

“Italy has agreed to invest 4 billion euro in the construction of the Iranian railways. The agreement on the construction was signed in Tehran by the Italian company ITINERA and two leading Iranian transportation companies,” says the publication.

According to the official representative of ITINERA Pino Arlacchi, the investment, insurance and banking issues are being studied at present. The mutual settlements shall be carried out in euro.

As explained by the Director General of the Organization for International Affairs at the Islamic Republic of Iran Railways Abbas Nazari, the point in case is about the construction of high-speed rail lines Qom-Arak and Tehran-Hamadan. He also said the loan insurance will be provided by the Italian insurance agency Servizi Assicurativi del Commercio Estero. This company has expressed its readiness to provide insurance coverage for the deals between Tehran and Rome up to an unlimited ceiling, the agency said.