Noorollah Beyranvand said the money, being loaned by the Export-Import Bank of China, was ready to be paid to China Railway Engineering Corporation (CREC), the company due to carry out the work.

Other companies involved are Khatam Al-Anbia Construction, which is owned by Iran’s Revolutionary Guard, Germany’s Siemens, and Italferr, the consulting arm the Italian national rail operator Ferrovie dello Stato.