BAKU, Azerbaijan, March 17. A new agreement between the Islamic Republic of Iran Railways (RAI), the Central Iron Ore Limited (CIO), and the Bafgh Mineral and Industrial Iron & Steel Complex has been signed, with an investment of 16 trillion rials (about $27.5 million). allocated for the project, Trend reports via the Iranian Ministry of Roads and Urban Development.
In accordance with the stipulations delineated in the contractual framework executed on March 16, a railway corridor extending 32 kilometers will be engineered to facilitate the transit of five million tons of freight on an annual basis.
This railway corridor will optimize the logistics of freight movement to the strategic hubs of Bandar Abbas, Mobarake Steel Company, Kerman Zarand Steel Company, Khorasan Steel Company, and Ardekan Steel Company.
It is pertinent to highlight that the Iranian railway infrastructure encompasses an extensive network measuring 14,984 kilometers, supported by a fleet of 29,950 freight cars and 2,178 passenger cars currently operational.
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