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TEHRAN Cheap Hap Day Jersey , Aug. 8 (Xinhua) -- German Siemens group will finance 3.5 billion U.S. dollars in Iran's rail and power plant projects, Press TV reported on Tuesday.

""On a trip to Germany, we had discussions about Siemens' participation in Iran's railway and power plant projects,"" Deputy Minister of Road and Urban Development for International Affairs Asghar Fakhriyeh-Kashan was quoted as saying.

In the rail sector Cheap Turk Broda Jersey , Iran is going to buy a number of wagons from Siemens for use on a high-speed line between the capital Tehran and the central cities of Qom and Isfahan, Fakhriyeh-Kashan said.

Siemens will also provide signaling equipment and install communication signs, he said.

Besides, Siemens plans to enter into a joint venture with Iran's MAPNA Group both in the power plant and locomotive manufacturing sector in order to boost domestic production Cheap Johnny Bower Jersey , he said.

MAPNA Group is a conglomerate of Iranian companies involved in development and execution of thermal and renewable power, oil & gas, railway transportation and other industrial projects as well as manufacturing main equipment.

Iran and Siemens reached a preliminary agreement in March to jointly manufacture equipment for electricity industry and power equipment under the license of the German firm, Arsalan Fathipour Cheap Roman Polak Jersey , the official from Iran Electricity Industry Syndicate, said.

The agreement with the German company also encompassed the transfer of know-how as well as construction of new equipment for power generation industry, he said.

The official said that the plant would be built in Parand, a town about 65 kilometers southwest of Tehran.

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