Completed Development AidData Chinese Aid

China Eximbank provides $93.5 million concessional loan for Tehran Metro Line 1 Northern Extension Project (Linked to Record ID#41233)

$93.5M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Government of Iran
Country	Iran
Start Date	Nov 01, 2002
End Date	Oct 20, 2030
Duration	10,215 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`95733`

Grant Description

China Eximbank provides $93.5 million concessional loan for Tehran Metro Line 1 Northern Extension Project In November 2002, Tehran Urban and Suburban Railway Company (TUSRC) and CITIC Group Corporation Ltd. signed a $275 million commercial (EPC) contract for the Tehran Metro Line 1 Northern Extension Project.

China Eximbank subsequently signed two loan agreements with TUSRC for the Tehran Metro Line 1 Northern Extension Project: a $93.5 million concessional loan and a $140 million buyer’s credit loan.

The borrower was expected to use the loan proceeds to finance 85% of the value of the commercial contract that it signed with CITIC Group Corporation Ltd. in November 2002.

The purpose of the project was to construct the northern extension of Tehran Metro Line 1, which consisted of 8.2 km of railway track between the Haghani metro station and the Tajrish metro station. The project also supported the construction of 7 metro stations. CITIC Group Corporation Ltd. was the contractor responsible for project implementation.

The project was completed and officially inaugurated on May 18, 2009.

📋 Staff Comments

1. The Chinese project title is 德黑兰地铁1号线北延线.

📚 Sources & References

德黑兰地铁1号线北延线
Tehran Metro Line 1 North Extension
The first phase of the Tehran Metro North Extension Project undertaken by CITIC International Cooperation Corporation was officially opened
Section U1-W1 of Tehran Metro North Extension Project put into trial operation
CRSC undertook the construction of the first phase of the northern extension of Iran's Tehran Metro Line 1 and opened
Fifteen Ventilation Units Put into Business Operation in the Northern Extension of Tehran Metro Line 1 Project
Pajoohesh Profile Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.