Iran and China signed €70 million deal on joint manufacturing of freight locomotives

Beijing. May 16. Silkroadnews - Iran and China signed a €70-million worth agreement on cooperation in manufacturing of 50 freight electric locomotives in Iran, the Iranian Telegraph Agency (IrTAG) reports.
As reported by the news portal of the Ministry of Transportation of Iran, the trilateral deal was concluded by Iranian companies Wagon Pars and Alborz and Chinese giant-manufacturer of locomotives CRRC Dalian Co.
The signing ceremony has been attended by Iran’s Transport Minister Abbas Akhoundi and representatives of Iranian and Chinese companies.
The contract consists of three subcontracts, including the transfer of technology from CRRC Dalian to Wagon Pars.
Earlier in March, the Chinese manufacturer of locomotives CRRC Nanjing Puzhen also signed an agreement with the Iranian Industrial Development and Renovation Organization (IDRO) on financing the joint manufacturing of 450 subway wagons in Iran.