Thursday, June 21, 2018
Directory Directory Subscribe
Login
 

China signs $1.5 billion deal to finance Iranian rail project

 
 

Please, enter data

Please, enter data

Financial Tribune, 25 July 2017

China signed a contract with Iran to finance the electrification of a 926km railroad from Tehran to the eastern city of Mashhad with a $1.5 billion loan.
 
As per the agreement signed between the two sides in Tehran on Tuesday, the guarantee for the loan, which is to be granted by Exim Bank of China, will be provided by Iran’s Bank of Industry and Mine, Islamic Republic of Iran Broadcasting reported.
 
The electrification project will be carried out by China National Machinery Import and Export Corporation, otherwise known as CMC.
 
A subsidiary of China General Technology Group, CMC is an international engineering contractor in transportation infrastructure, industrial facilities, and power plants. In 2014, the company constructed the Ankara-Istanbul high-speed railroad, together with China Railway Construction Corporation Limited and Turkish companies.
 
Iran's deputy minister of roads and urban development Asghar Fakhrieh-Kashan has earlier said that the project is worth €2.2 billion ($2.56 billion) and that two-thirds of value would be financed by the Chinese government with a very low-interest rate. The remaining one-third, he said, would be covered by Chinese insurer Sinosure (China Export and Credit Insurance Corporation.
 
Iran’s MAPNA Group is the project's main domestic subcontractor, according to Fakhrieh-Kashan
 
Financial Tribune
25 July
  COMMENTS
Login to Add Your Comment  (for subscribers) | Subscribe

 

Latest News

Qatar's real estate sector to see more growth
The Peninsula, 19 June 2018

Qatar’s real estate sector is expected to see more growth, especially in the beginning of next year, due to various factors, including the government support ...

Read full story
Qatar's real estate sector to see more growth
Saudi Arabia approves 20 new housing projects by local developers
Zawya, 19 June 2018


Saudi authorities have approved 20 new projects to build houses for citizens in various parts of the Gulf kingdom, a local newspaper reported on ...

Read full story
Saudi Arabia approves 20 new housing projects by local developers
R&M inks key Lebanon high-speed cabling contract
TradeArabia News Service, 19 June 2018

 R&M (Reichle & De-Massari AG), a leading global producer of future-proof products and systems for communication and data networks, said it has been ...

Read full story
R&M inks key Lebanon high-speed cabling contract
Egypt's economic reform program more than 85% complete: New finance minister
Ahram Online, 18 June 2018

 More than 85 percent of Egypt's ongoing economic reform program has been put into effect so far, newly-appointed Finance Minister Mohamed Maeet said in ...

Read full story
Egypt's economic reform program more than 85% complete: New finance minister
Back to Home Page 1638 --- 0 <><><> 249.....exvideo=0....eximage=0
P -1
BR 0

 
Entertainment KSA
3 - September 2018
The 2nd Annual Digital Transformation Summit
17 - September 2018
Future Traffic Security
24 - September 2018
Future Civil Defense
24 - September 2018
Global Road & Traffic Safety Forum - Abu Dhabi
24 - September 2018
 
  View more  

Market Indecies
 
Saudi SE - 2.32%
Dubai FM - 4.53%
Abu Dhabi SE - 3.99%
Kuwait SE - 1.51%
Doha SM - 8.36%
Muscat SM - 6.18%
Casablanca SE Closed
Bahrain SE - 0.98%
Cairo SE Closed
Amman SE - 1.12%
 

Quick Links
  Reports  
  Articles  
  Brochures & Flyers  

Up-coming events
  Project Lebanon - 26 June - 29 June 2018  
  Energy Lebanon - 26 June - 29 June 2018  
  Iraq Agrofood Baghdad - 8 October - 11 October 2018  
  Project Iraq Baghdad - 8 October - 11 October 2018  
  Hospitality Qatar - 6 November - 8 November 2018  
  HQ - Food Qatar - 6 November - 8 November 2018  
  Food Africa Cairo - 8 December - 10 December 2018  
  Mac Fruit Attraction - 8 December - 10 December 2018  
IFP Group Events Calendar

Magazine sections
  Finance  
  Zoom  
  Growth Markets  
  Regional Overview  
  Editorial  
  Tips and Tricks  
  Spotlight  
  Home Finance  
  Our Meetings
 
  Focus
 
  News
 
  Legal Issues
 

 

               
IFP Corporate
• IFP Emirates
• IFP Lebanon
• IFP Qatar
• IFP Iraq
• REC Saudi Arabia
• IFP China
Lebanon
Beirut Boat
Energy Lebanon
Project Lebanon
Qatar
Hospitality Qatar
HQ - Food Qatar
Iraq
Iraq Agrofood Baghdad
Project Iraq Baghdad
Saudi Arabia
Riyadh Motor Show
 
 
  IMC
IFP Group 2018 - © All rights reserved