Iranian Deputy Minister of Roads and Urban Development Ali Nourzad said that a contract has been concluded between the ministry and a Chinese company to provide enough funds for the completion of a railway project in Western Iran.
Nourzad said on Sunday that Tehran-Hamedan-Sanandaj 410-kilometer-long railway in Western part of the country in scheduled to be financed by the Chinese company.
He further added that the contract was signed during a recent visit to Iran by a Chinese delegation.
Trade between Iran and China in the past year was estimated at $45bln.
Iran is currently China's third largest supplier of crude, providing Beijing with roughly 12 percent of its total annual oil consumption.