By Trend

Iran’s Road and Urban Development Minister Mohammad Eslami said on Monday that agreements have been signed with foreign countries to establish joint rail transport firms, Trend reports citing IRNA.

Iran had made agreements and memorandums of understanding with foreign countries to finance and develop railway transportation, but investments were hurt by US sanctions, Eslami said as reported by Ministry of Road and Urban Development.

Stating that there have always been opportunities in this regard and Iran welcomes them, the minister said Iran had agreements with different counties and was going to establish joint transportation firms.

By establishing these firms, Iran is set to pave the way for its trains to be able to pass through other countries, Eslami explained, expressing hope that this would bring about a transition in Iran’s railway industry.

He underlined that Iran has paved the way to have a more advanced and more efficient railway system by joining International Union of Railways (UIC) and Commonwealth of Nations and signing agreements to adopt joint procedures and tariffs.

Iran has also constructed high-speed electric railways (300 km/h) and is going to afford high-speed trains later this year and connect to global lines, according to the minister.