TEHRAN, Iran (AP) — Iran Railways says it has signed a preliminary agreement with Italy's state railway to construct two high-speed links in Iran.
Four memoranda of understanding worth some $1.36 billion were announced Tuesday. They refer to the construction of high-speed railways between Qom and Arak and the capital, Tehran, and Isfahan. They also include cooperation 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.
In April 2015, Iran signed $8 million deal with the French company AREP to modernize three train stations, in Tehran, Qom and Mashhad.