French Alstom reveals functions of JV with Iran
Baku, Azerbaijan, Dec.27
By Leman Zeynalova – Trend:
The joint venture (JV) to be created by French Alstom and the Industrial Development & Renovation Organization of Iran (IDRO) to manufacture metro wagons will be a dedicated vehicle to seek business opportunities, a source in Alstom told Trend.
The source recalled that a memorandum of understanding has been signed with IDRO on 27 January 2016 for the development of the country’s infrastructure and urban and national public transportation.
As a further step in the mutual cooperation contemplated in the MoU, Alstom and IDRO signed on 23 July 2017 an agreement which defines the terms and conditions of incorporation of a potential joint venture to be established between both parties, added the source.
This joint venture would be the dedicated vehicle to seek business opportunities and execute the contracts won, in the field of manufacturing and supply of rolling stock for urban and suburban transportation,” said the source.
The joint venture would manufacture 1000 wagons per year. Alstom would take a 60-percent stake in the project.
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