€3bn Siemens Credit Line on the way

By John Lee.

Germany’s Siemens is reported to be preparing to provide 3 billion euros in financing for rail and power projects in Iran.

Deputy Minister of Road and Urban Development for International Affairs, Asghar Fakhriyeh-Kashan, said on Tuesday:

“Through financing a number of construction projects, Siemens plans to enter into a joint venture with Iran’s MAPNA company both in the power plant and locomotive manufacturing sector in order boost domestic production.”

Iran will buy wagons from Siemens for the high-speed line between Tehran, Qom and Isfahan, and Siemens will also cooperate on providing signaling equipment and installing communication signs, according to PressTV.

(Source: PressTV)

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