0426 GMT February 28, 2020
"The two-billion-dollar project for electrification of Tehran-Mashhad railroad has been finalized and it has also received the (necessary) approval of the Iranian Economy Council and we are introducing the project to the Chinese Investment Insurance Company on behalf of the Central Bank of Iran," Manager of the Electrification Project of Iran's Railroads Qassem Saketi told Fars News Agency on Saturday.
He stated the project will take 42 months to complete, and said, "The electrification project will shorten travel time between Tehran and Mashhad to six hours from the current minimum of 12 hours as the train's top speed will hit a maximum of 200 km/h."
Saketi said that his department has obtained the necessary licenses for implementing the project through 85 percent of foreign finance.
The remaining 15 percent will be financed by the (Iranian) government, he added.
He noted that project would be implemented within the framework of the engineering, procurement, construction and finance (EPCF) contract.
Saketi said once the project is completed, "the passenger capacity of Tehran-Mashhad railroad will increase from the current 14 million passengers per year to 35 million".
The electrification project would also increase the cargo capacity of Tehran-Mashhad railroad to 10 million tons per year as well, he noted.
In June 2014, Iranian and Chinese officials signed a contract on the electrification of the railroad linking Tehran to Mashhad.
The project is due to be implemented by an Iranian-Chinese consortium, including the Iranian companies of MAPNA, MAPNA Ehdas and MAPNA International and the Chinese CMC and SU Power firms.
The deal necessitates the signatories to reform and construct the current Tehran-Mashhad railroad for trains with 200km/h speed, build electric railroad for trains with 250km/h speed and procure 70 electric locomotives.