TASS- The contract has a total price over 1 bln euro, Russian Energy Minister Alexander Novak said

Russia and Iran intend to sign a contract for construction and electrification of a railway in Iran as soon as practicable, Russian Energy Minister Alexander Novak said on Monday.

"The final document on the beginning of construction, upgrade and electrification of a railway in Iran will be signed shortly. The contract has a total price over 1 bln euro," Novak said.

The draft intergovernmental agreement stipulates that Russia will extend a five-year credit to Iran in the amount of up to 1 bln euro. The project provides for electrification of 495 km long Garmsar - Ince-Burun railway line. Electrification will also cover 32 stations and 95 tunnels. 7 traction substations, 11 section pillars, 6 duty posts of the contact station and power supply administration building will be built. According to preliminary estimates, the project will be implemented in 36 months.