China and Iran sign US$13-bln railway deal

China and Iran inked a contract worth a total of US$12.86 billion to build a railway network in Iran, sources reported, citing a statement published by Iran’s state-owned Construction and Development of Transportation Infrastructures Co.

According to the statement, the contract was signed during a Chinese delegation’s visit in Teheran. No further details were given.

Pursuant to the contract, both parties will cooperate to build railway network with length of 5,300 kilometers in Iran.

China, the largest trade partner to Iran, saw their bilateral trade value reach US$30 billion, according to the source. Last month, China renewed its annual oil import agreement with National Iranian Oil Co or NIOC to import about 460,000 barrels of crude oil per day, China Knowledge reported earlier.

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