Tehran, Iran, Aug 1
By Mehdi Sepahvand – Trend:
Russian Transmashholding сompany would purchase Pars Wagon Company, based on an agreement signed on July 31, Mansour Moazami, Deputy Minister of Industry, Mine and Trade & Chairman of the Industrial Development & Renovation Organization of Iran told Trend.
According to Wagon Pars Company’s official website, this firm is Iran’s biggest wagon-manufacturing company.
Iran’s Industrial Development & Renovation Organization (IDRO) signed an agreement with Transmashholding to establish a joint venture for manufacturing wagons for railroads on July 31.
Moazzami said that IDRO and Russian company would put 2.5 billion euro investment at 20/80 ratio to purchase Pars Wagon and develop that firm for producing 20,000 passenger wagons per year.
He also said that the mentioned investment amount would be invested gradually.
He added that the 20,000 figure is nominal capacity and depends on Iran’s domestic needs.
Iran plans to expand its railway grid from the current 11,000 km up to 25,000 km within the next five years, which explains the need for more equipment, including the wagons.
Transmashholding is the largest manufacturer of locomotives and rail equipment in Russia.
IDRO and Transmashholding finalized a memorandum of understanding (MoU) to boost cooperation in production of railroad cars in March of 2017.
Iran possesses about 24,000 cargo and 2,000 passenger wagons, as well as 100 locomotives which are currently actively used.