By John Lee.
The managing director of the Islamic Republic of Iran Railways (IRIR, RAI), has been quoted as saying that Iran has bought 250,000 tons of rails from India.
Mohsen Pour-Seyyed Aqaei said:
“Five percent of the funds required for the purchase will be provided by the IRIR … The remaining 95 percent of the funds will be provided by the Indian government.”
He added that the rails will be used to develop the train network across Iran over the current Iranian calendar year which ends in March 2017.
He also emphasized that the priority for the IRIR is to provide its required rails from domestic sources, but added that the leading supplier in the market – Esfahan Steel Company (also known as Zob Ahan) – is yet to announce when it can supply IRIR’s demands.