Iran lease-purchases 500 cargo wagons from Russia

Business Materials 20 January 2016 15:38 (UTC +04:00)

Tehran, Iran, January 20

By Mehdi Sepahvand -- Trend:

An Iranian private company has lease-purchased 500 cargo wagons from Russia, Deputy Minister of Transport of Iran Mohsen Pourseyyed Aghaei said.

Pointing to the post-sanctions situations, the official said the most suitable way for Iranian companies to acquire wagons is lease-purchasing.

Underlining that leasing requires well-known international insurers, he said Iranian companies will be able to resort to leasing hereafter because there are no longer any economic sanctions on Iran.

He pointed out that as the country is developing its railways, the need for more wagons will arise.

Aghaei went on to say that talks are held to lease-purchase passenger wagons as well.

Iran's transport sector has remained underdeveloped due to mismanagement as well as international sanctions.

The sanctions were removed following the implementation of the Joint Comprehensive Plan of Action (JCPOA), Iran's nuclear deal with six world powers which was announced on January 16.