Oleg Belozerov, President of Russian Railways, and Said Mohammadzadeh, Chairman of the Board and President of the Joint-Stock Company Islamic Republic of Iran Railways, have signed a memorandum on strategic cooperation on railway electrification. The signing took place in Moscow on 28 March 2017.
The two sides noted the high level of mutual cooperation and expressed their intention to transfer the experience gained from implementing the electrification project between Garmsar – Inche Burun (Iran) to other potential joint projects.
On 28 March 2017, Russian Railways and Islamic Republic of Iran Railways also signed a contract for the electrification of the railway stretch between Garmsar – Ince Burun and the supply of Russian equipment and materials.
The document was signed by Sergei Pavlov, Managing Director of RZD International, a subsidiary of Russian Railways, and Said Mohammadzadeh, Chairman of the Board and President of the Joint-Stock Company Islamic Republic of Iran Railways,
The contract, which is worth an estimated 1.2 billion euros, details the cost and scope of the project.