Tuesday، 19 December 2017 | Score:
Iran, Russia Sign MoU for Joint Manufacturing of Freight and Passenger Carriages
MRUD News—Iran Railway Company and The Russian Export Center sign an agreement to manufacture 20000 freight carriages, 1000 passenger carriages, and 350 freight locomotives through joint manufacturing.
The agreement is signed on 18 December, 2017 at the presence of Iran Minster of Roads and Urban Development, head of Iran Railway Company and Russian delegation headed by Petr Fradkov, CEO of The Russian Export Center.
This agreement will expand commercial, economic and industrial cooperation between the two countries as the two parties are committed to run joint projects to manufacture the fleet Iran needs through localizing joint railroad projects in Iran by Russia and Iran producers.
Based on this agreement, € 3 b. will be invested by Russia during next 5 years. It is predicted that cooperation on rail equipments will be increased considerably between the two countries.
The Russian Export Center is committed to finance the joint production of fleets and rail equipments amounting to € 3 b.
Also according to these contracts, the joint production of 600 freight wagons will be carried out by foreign finance through United Wagon Company of Russia and three Iranian manufacturers (Pars, Kowsar, and Foolad Derakhshan) and support of Iran Ministry of Industry, Mine and Trade.