Siemens to fi­nance Ira­nian projects

China Daily (Hong Kong) - - BUSINESS -

Ger­man Siemens group will fi­nance $3.5 bil­lion in Ira­nian rail and power plant projects, Press TV re­ported on Tues­day. “On a trip to Ger­many, we had dis­cus­sions about Siemens’ par­tic­i­pa­tion in Iran’s rail­way and power plant projects,” Deputy Min­is­ter of Road and Ur­ban De­vel­op­ment for In­ter­na­tional Af­fairs, As­ghar Fakhriyeh-Kashan, was quoted as say­ing. In the rail sec­tor, Iran is go­ing to buy wag­ons from Siemens, to use on a high-speed line be­tween the cap­i­tal Te­heran and the cen­tral cities of Qom and Is­fa­han, Fakhriyeh-Kashan said. Siemens will also pro­vide sig­nal­ing equip­ment and in­stall com­mu­ni­ca­tion signs, he added. In ad­di­tion, Siemens plans to en­ter into a joint ven­ture with Iran’s MAPNA Group, both in the power plant and lo­co­mo­tive man­u­fac­tur­ing sec­tor, in or­der to boost do­mes­tic pro­duc­tion, he said.

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