SAIL to ink pact with Iran for supplying railway tracks.

With the Western nations easing sanctions on Iran, the country's biggest steel maker SAIL is all set to sign a definitive agreement to supply steel worth nearly Rs. 15,000 crore to help Tehran set up a railway network project spanning over 15,000 km to connect its major ports and key production centres.

Khaleel Rahim, chairman of state-owned trading firm State Trading Corporation (STC) is slated to visit Tehran soon to finalise some of the formalities that could pave the way for steel exports from India.

Iran had sought Indian investment in massively expanding its railway network and needs about 3 million tonnes of steel rails to connect all major cities, industrial centres and also ports for faster evacuation of goods.

The Indian Express