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A US$1·5bn loan agreement to finance electrification of the 926 km Tehran – Mashhad main line was signed by China EximBank on July 25. Iran’s Bank of Industry & Mine will act as the Iranian government’s guarantor.

Russian Railways’ export business RZD International and Islamic Republic of Iran Railways signed a €1·2bn contract on March 28 for the electrification of the 495 km route from Garmsar on the Tehran – Mashhad main line to Incheh Borun on the border with Turkmenistan. This builds on an initial agreement signed in November 2015.

RZD International officially launched work to electrify the Garmsar – Incheh Borun line with a ceremony on July 2.

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