04:07 GMT +322 October 2017
Live
    View of the Tehran, Iran

    Russia to Provide Over $2.4Bln in Loans to Iran for Joint Projects

    © Fotolia/ Borna_Mir
    Business
    Get short URL
    0 49972

    Russia will allocate up to 1 billion euros ($1.1 billion) for Iran to electrify a railroad section and up to 1.2 billion euros ($1.3 billion) for power plant construction, a decree published on the official portal of legal information Monday said.

    MOSCOW (Sputnik) – The first tranche covers the electrification of the 203-mile Garmsar-Incheboron railroad in central Iran, according to the decree.

    Russia’s second loan will finance up to 85 percent of the thermal power plant contracts, with the rest to cover advance payments to Russian contractors.

    Related:

    Iran's Atomic Agency Refutes Reports on Purchase of Bulgarian Old Reactors
    Iran Reopens Border Crossings With Turkey After Coup Attempt
    ‘America Not a Partner You Can Trust’: US Refuses to Mend Fences With Iran
    Tags:
    loan, Russia, Iran
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment