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2 China firms gunning for multi-billion-dollar Iran rail, ship deals

CTC said to be close to US$3 billion high-speed rail agreement

Published Fri, Mar 11, 2016 · 09:50 PM

Beijing

TWO Chinese firms are pushing for multi-billion-dollar deals with Iran to build a high-speed railway and modernise its shipping fleet following the lifting of most sanctions against Teheran, sources with knowledge of the negotiations said.

State-run China National Transportation Equipment & Engineering Co Ltd (CTC) is close to finalising an agreement on the US$3 billion rail project to connect Teheran with the north-eastern holy city of Mashhad, a Chinese source told Reuters.