Ranik (GEMZ) Signs a 3,400 Billion Toman Contract to Complete Track Works on the Qazvin - Rasht - Caspian Railway

In a group-A disclosure published on Codal on Monday, 12 October 2026 (20 Mehr 1405), Ranik announced it has signed a contract to carry out the completion track works on the Qazvin - Rasht - Khomam - Caspian railway project with the Transport Infrastructure Construction and Development Company of Iran. The contract is worth 3,400 billion tomans (3.4 trillion tomans), and both its signing and effective date are recorded as 20 Mehr 1405.

According to the contract description, the work covers Gilan and Qazvin provinces and includes supplying and purchasing track equipment and ballasting, re-laying, long welded rail, embankment slopes, switch installation, line and switch signage, and laying the station tracks. Settlement is through financial securities provided for in annual budget laws, and in cash where funds are available.

The company's form gives no explanation of the contract's effect on fiscal-year revenue; payment in securities raises the question of settlement timing alongside the scale of the work.