Baku, Azerbaijan, April 22
By Elnur Baghishov - Trend:
As many as 974 railcars and locomotives will be produced by local companies in Iran this Iranian year (started March 21, 2019), Vice-Minister for Roads and Urban Development of Iran, Chairman of the Board and President of RAI (Railways of the Islamic Republic of Iran) Saeid Rasouli said, Trend reports with reference to the website of the Ministry of Roads and Urban Development.
He said that 40 locomotives, 650 freight cars, 24 railbuses and 30 passenger cars will be produced. Besides, 230 railcars will be overhauled, he added.
“Funds worth 19.4 trillion rials (about $462 million) are needed to produce such a great quantity of locomotives and railcars,” Saeid Rasouli said.
In accordance with the contract signed with local producers last Iranian year (started March 21, 2018), 20 percent of the funds will be ensured by consumers, 10.8 trillion rials (about $257 million) will be provided through bank loans, and 4.73 trillion rials (about $113 million) will be provided by the Iranian government.
The interest rate of these loans is 12 percent for the production of passenger railcars, and 13 percent for locomotives and freight railcars. The remaining interest rates will be paid by the Iranian government.