Summary：Iran is hopeful its ally China will fund up to $2 billion to complete Tehran's metro rail which faces delays due to lack of financing as a result of sanctions.

Iran is hopeful its ally China will fund up to $2 billion to complete Tehran's metro rail which faces delays due to lack of financing as a result of sanctions.

Phase two of the metro is on track for completion next year but two new lines under the third phase may be delayed due to lack of money, Mohammad Montazeri, deputy managing director, planning & logistics, Tehran Urban & Suburban Railway Co said.

"We are seeing funds from foreign companies. We are in negotiations with China (government, banks and agencies), we are hoping to get financing," he told Reuters on the sidelines of the Middle East Economic Digest's Rail Projects conference.

"If the loans come we can finish on time," he said.