Tehran, Moscow sign MoU to build railcars

News ID: 3940150 -
TEHRAN, Mar. 28 (MNA) – A Memorandum of Understanding was inked Monday between the Industrial Development & Renovation Organization of Iran (IDRO) and Transmashholding, Russia’s largest company on the railway machine-building market.

In the course of bilateral talks between the Iranian delegation in Moscow and top directors of Transmashholding, a cooperation agreement was reached between IDRO and CJSC Transmashholding as the largest manufacturer of locomotives and rail equipment in Russia.

Under the terms of the agreement, the two sides will join hands in production of rail wagons in Iran through Russian financing.

As a result of negotiations, Tehran and Moscow will cooperate in various sectors of producing cargo and passenger railway carriages.

It had been previously announced that Iran and Russia were planning to launch collaborations in the area manufacturing train wagons.

Russia possesses one of the world's most extensive rail networks as well as the largest industry for manufacturing of rail cars and locomotives. Majority of cargo and passenger displacements are conducted through railroad in Russia which is the world’s largest country with an area of over 17 million square kilometers.

The Eurasian country also enjoys the advantage of holding links with former Soviet republics.

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