The ministry is now allowed to issue the guarantee pertaining to the finance deal for the electrification of Tehran-Mashhad railroad, reports the official news website of the administration. The finance deal was signed in Tehran on July 26 between the Chinese lender and Iran’s Bank of Industry and Mine, and China will finance 88% of the project. The ministry gained the permit as part of the Cabinet’s meeting to discuss the next annual budget law, according to Financial Tribune.