Italy to build high-speed railroad in Iran

Tehran July 4 (IANS) Italy will sign an agreement with Iran to build a high-speed railroad between the two Iranian central cities of Qom and Arak a media report said on Tuesday.

The Islamic Republic of Iran Railways (IRIR) will sign the 1.2-billion euro ($1.36 billion) deal with Italy s state railroad company on July 11 said the report in Iranian daily Financial Tribune.

During the upcoming visit of Renato Mazzoncini the Chief Executive Officer of Italy s state railroad company two other deals will also be signed on setting up training courses for IRIR personnel Xinhua news agency cited the report as saying.

In February Iran and Italy signed a preliminary agreement to develop the railroad system of the Islamic country which says Italy will provide up to 5 billion euros in export credits to Tehran.

--IANS
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