The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
REUTERS
Italy’s state railways company expects to sign a contract to build the first stretch of a high-speed rail line in Iran in February 2017, its chief executive said on Thursday. The contract for the roughly 100 km-stretch between Qom and Arak is worth about 1 billion euros ($1.1 billion), Ferrovie dello Stato <IPO-FERRO.MI> chief Renato Mazzoncini said at an event in Rome.
Ferrovie signed a framework agreement to build two high-speed lines in Iran when Italian Prime Minister Matteo Renzi visited Tehran with a delegation of business leaders in April. Mazzoncini said the overall deal would be worth about 4 billion euros.