Russian company says ready to export freight wagons to Iran

Business Materials 11 July 2018 10:30 (UTC +04:00)

Tehran, Iran, July 11

By A. Shirazi - Trend:

The chief executive officer of UralVagonZavod, a Russian machine building company, voiced readiness to export freight wagons to Iran.

“We are ready to export freight wagons and road-building machines to Iran,” Alexander Potapov said on Tuesday during a meeting with Iranian deputy minister of industries, mining and trade Barat Qobadian, IRNA news agency reported on July 11.

The meeting took place in the Russian city of Yekaterinburg located in east of the Ural Mountains.

Qobadian, for his part, said the two countries have great potential to enhance their cooperation in rail transportation, rail link constriction, and subway systems.

On August 2017, Russia’s CJSC Transmashholding signed a 2.5 billion euro deal with IDRO (The Industrial Development & Renovation Organization of Iran) Group for joint production of rolling stock in Iran.

It was supposed to hold an 80 percent stake in the joint venture, taking over Iran’s Wagon Pars Company to produce railroad cars in the country.

The initial agreement was reached in 2016, under which Iran was about to import 1,100 freight wagons from Russia and jointly produce another 5,000 units in the Islamic Republic.