Russia will allocate up to 1 billion euros ($1.1 billion) for Iran to electrify a railroad section and up to 1.2 billion euros ($1.3 billion) for power plant construction, a decree published on the official portal of legal information Monday said.





MOSCOW (Sputnik) – The first tranche covers the electrification of the 203-mile Garmsar-Incheboron railroad in central Iran, according to the decree.

Russia’s second loan will finance up to 85 percent of the thermal power plant contracts, with the rest to cover advance payments to Russian contractors.

By Sputnik