Tehran Times- Germany�s Siemens has finalized a deal with Iran�s Mapna Group for manufacturing of electric locomotives and also transferring relevant knowledge to the country, IRNA reported on Friday.


According to Saeid Mohammadzadeh, the managing director of Islamic Republic of Iran Railways (IRIR), the contract is ready and it will be signed next week.

Addressing the press in the northeastern city of Mashhad, Mohammadzadeh noted that a significant part of the project is gaining to be carried out by Iranian experts and work force.

Mentioning other railway projects in the country, the official said the finance for signaling of the Tehran- Mashhad railway has been secured and hopefully the project will be inaugurated by the end of the current Iranian calendar year (March 20, 2017).

Earlier in November 2016, Bloomberg reported that Germany has agreed to provide Iran with a 1.2 billion euro ($1.27 billion) credit line to help finance the development of the Tehran to Mashhad railway.

Also this week Monday, Iran and Germany inked an agreement on the expansion of cooperation in rail, air and sea transportation.

Based on this agreement, which was signed in Tehran by Iranian Transport Minister Abbas Akhoundi and the visiting German Federal Minister of Transport and Digital Infrastructure Alexander Dobrindt, the two sides agreed to set up a taskforce to develop mutual cooperation in different transportation areas.