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Iran and China sign agreement for metro trains

Iran and China sign agreement for metro trains
ID : N-1418 Date : 2018/03/07 - 14:38

(Persia Digest) – A cooperation agreement has been signed for the manufacture of 450 metro trains between the Industrial Development & Renovation Organization of Iran (IDRO) and China.

IDRO Group Chairman, Mansour Moazami, said: “The Chinese side will be working with the “Wagon Pars Arak” company in order to maximize domestic capacities in train manufacture. Production and supply of the required trains will be carried out with the cooperation of a foreign company and modern technology for the first time in Iran.”

He added: “Our Chinese partners will cover the project financing up to a ceiling of 85 percent.”

Moazami stated: “In this joint venture, a median of 35% and a maximum of 59% of the aluminium trains will be domestically manufactured. Train parts will be provided by China and brought to Iran for assembly in non-governmental Iranian factories.”

He reiterated: “To equip and run Pars company, a 25MM euro investment has been envisaged. Our Chinese partners have announced their readiness to invest this amount.”

Persia Digest reports that a cooperation agreement was signed last week between IDRO and the Swiss Stadler for the manufacture of 960 trains for the Tehran-Karaj metro line, creating jobs and transferring technical knowledge.

According to Moazami, negotiations have been carried out for the manufacture of 5000 metro trains worth over euros 6BN.

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