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FinancialNews
08-03-18
Iran to receive metro cars supply from Chinese railway company
(MENAFN) An agreement between Iranian IDRO Group and Chinese CRRC Nanjing Puzhen Rail Transport has been signed for 450 metro cars to be provided for Iran's Ahvaz, Tabriz and Shiraz.
IDRO Managing Director Mansour Moazzami declared the Chinese company to be offering as much as 85 percent financing of the project, along with parts for assembly at Iran's Wagon Pars.
The managing director explained "in order to make maximum use of domestic capabilities in the field of rolling stock manufacturing, the contracting party was required to cooperate with the Wagon Pars company of Arak."
He added "hence, the production and supply of wagons needed compatible with world-class technology will be carried out for the first time at Wagon Pars in partnership with a foreign company with an investment of 25 million euros."
MENAFN0803201800450000ID1096558923
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