An Iranian-Chinese consortium has secured financial approval for the Tehran-Mashhad railway project in Iran.

The consortium comprises Mapna, Mapna Rail Construction and Development, Mapna International, CMC and SU Power.

An electrification contract to this effect was signed by the consortium partners and the Railway Company of the Islamic Republic of Iran.

"The contract also covers the repair and maintenance of 70 trains, machineries and the overhead network for the next five years."

MAPNA Group managing director Abbas Aliabadi said that the EPC contract was signed under an EPCF scheme and is expected to be funded by the Chinese companies.

Work under the contract includes the renovation of the existing structure, as well as the construction of an electrified railway network for speeds exceeding 250km/h along the 900km-long rail route.

The contract also covers the repair and maintenance of 70 trains, machineries and the overhead network for the next five years.

Aliabadi emphasised on the importance of implementing a modern and electrified railway, which can achieve higher levels of energy efficiency and speed.

Mapna also plans to add four lines for the production of cargo, shunting, tunnel and electric locomotives.