(11 Jul 2017) LEADIN:
Italy and Iran have signed a deal to improve the Islamic republic's railway network.
The agreement is worth 1.36 billion US dollars and centres around the construction of two high-speed links.
STORYLINE:
Italian and Iranian flags side by side.
They are on display in honour of a deal between the two countries.
The heads of Iranian Railways and Italy's state railway company are in Tehran to sign agreements on the construction of high-speed links in Iran.
"I am so delighted that today we reached the final stage of a big project that has been in progress between the two parties over the last few years," says Renato Mazzoncini, Director-General of state-owned Ferrovie Dello Stato Italiane.
He says the four memoranda of understanding signed today will be operational "within the coming years".
Saeed Mohammad Zadeh, General Director of Iranian Railways, says the deal will "pave the way for progress and development" in Iran.
The agreement is worth around 1.36 billion US dollars.
The plan is to build high-speed railways between Qom and Arak and the capital, Tehran, and Isfahan.
The memoranda also refer to co-operation agreements between Iranian and Italian universities.
Iran is looking to revive its aging infrastructure following the lifting of international sanctions under the 2015 nuclear agreement.
Constructed about 90 years ago, there are more than 12,700 kilometres (7,890 miles) of Iranian railroads and annually more than 25 million passengers are transported through the network.
Passenger Mohammad Javad Shamani says he supports foreign investment in the railways.
"We need huge budgets for our projects. We need the money of foreign countries in our projects to expedite their development."
In April 2015, Iran signed an eight million US dollar deal with the French company AREP to modernise three train stations, in Tehran, Qom and Mashhad.
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