News ID: 193084
Published: 0721 GMT May 19, 2017

Iran plans to lease new train cars from Europe

Iran plans to lease new train cars from Europe

Iran's state-run railway company is in talks with a number of European companies to lease brand-new train cars, an official said.

The Islamic Republic of Iran Railways (IRIR) is proceeding with business negotiations with a number of European companies on leasing train cars, which are mostly new and are expected to be delivered by August, said Mohammad Rajabi, a top IRIR official, Tasnim News Agency reported.

He put the number of the cars at 50 and said one of the companies Iran is negotiating with is a German-Chinese firm. He pointed out that the cars were manufactured in Germany.

Iran has decided to lease train cars because receiving cars that are ordered for purchase is a lengthy process, Rajabi added.

Last month, Iran and Transmashholding, Russia's largest company on the railway machine-building market, finalized a memorandum of understanding to boost cooperation in the production of railroad cars.

Iran has ramped up efforts to renovate its aging railroad industry by attracting foreign investment in light of the Joint Comprehensive Plan of Action (JCPOA), a nuclear agreement between Tehran and the P5+1 (Russia, China, the US, Britain, France and Germany) that went into effect in January 2016.

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