China Railway Group Limited
In July 2017, Iran signed a contract with China Railway Group Limited, also known as CREC, to build this line. Although the contract was signed in 2015 with an estimated value of €1.8 billion, its scope and value are expected to expand.
In 2017, the states of, Iowa listed China Railway Group on its Iran scrutinized companies list rendering China Railway Group ineligible for investment and/or state contracting.
In 2017 California identified China Railway Group as potentially engaging in an investment venture including construction projects for power generation and smelting operations in Iran and is reviewing.