Home/ News / World/  China, Iran enters $400 billion strategic partnership deal

IRAN : China and Iran have reached a $400 billion strategic partnership deal.

It said Iranian Transport and Urban Development Minister Mohammad Eslami last week inaugurated the track-laying process for the 628km Chabahar-Zahedan line, which will be extended to Zaranj across the border in Afghanistan.

As reported by IRNA, the project which is aimed to connect Chabahar to Zahedan (the capital city of southeastern Sistan-Baluchestan Province) is planned to be completed by the end of the Iranian calendar year of 1400 (March 2022).

Speaking in the ceremony, Khademi noted that the total length of this railroad is 628 kilometers (km), 150 km of which will be laid by the end of the current Iranian calendar year (March 2021).

Referring to the importance of the Chabahar-Zahedan railway line, the official noted that due to its strategic position, Chabahar port is going to be a gateway for the country's trade and developing this region's infrastructure is a necessity to create more job opportunities and promote economic growth, the Tehran Times reported.

Establishing an all-rail corridor in the east of the country, connecting Chabahar as the country's only oceanic port to the national railway network, developing Makran coasts through rail transportation, connecting Central Asia and Afghanistan to open ocean waters, creating a suitable platform for development and economic growth, saving fuel consumption and reducing road accidents, creating sustainable development and security in the region and establishing permanent cooperation with countries in the region and other countries with trade and transit exchanges are reported to be some of the goals of Chabahar-Zahedan railway project, it reported.

According to Khademi, transporting 927,000 passengers and 2.8 million tons of cargoes by the Iranian calendar year 1401 (begins in March 2022) is set to be the short-term economic goal of this project.

This story has been published from a wire agency feed without modifications to the text.

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Updated: 15 Jul 2020, 04:08 PM IST
Recommended For You
Get alerts on WhatsApp
Set Preferences My Reads Watchlist Feedback Redeem a Gift Card Logout