ESCO to Start Rail Production Next Week
Economy, Business And Markets

ESCO to Start Rail Production Next Week

Esfahan Steel Company will start rail production by June 21, ESCO’s public relations director said on Wednesday.
“With a production capacity of 400,000 tons per year, ESCO is capable of meeting domestic demand for 150,000 tons of rail,” Mohammad Reza Kajbaf was also quoted as saying by SMT Daily.
ESCO, Ministry of Industries, Mining and Trade, and Ministry of Roads and Urban Development teamed up two years ago in a project called “National Rail Project” with the aim of reducing the Islamic Republic of Iran Railways’ reliance on rail imports and turning to ESCO as Iran’s main supplier of the industrial product.
The project, however, was delayed due to recession in the domestic steel market, ESCO’s lack of liquidity and IRIR’s refusal to pre-purchase the rails.
The general policies outlined by the Leader of Islamic Revolution Ayatollah Seyyed Ali Khamenei in the sixth five-year development plan (2016-21) specifically highlight the importance of developing rail transportation in the country.
The 20-Year National Vision Plan (2005-25) also stipulates that the number of passengers using rail transport be increased from the current 25 million to 65 million per year.


Short URL : http://goo.gl/3xZevX
  1. http://goo.gl/ScGPJL
  • http://goo.gl/V5GXwQ
  • http://goo.gl/RmfS7V
  • http://goo.gl/rXRuOa
  • http://goo.gl/hzDH0l

You can also read ...

The central bank officials of Iran and Oman convened in Tehran on March 17.
A host of high-level officials of the Central Bank of Iran on...
No Telegram  Crypto for Iranians
Telegram has announced that Iranian citizens will not be...
Volkswagen Assigns $25b in Battery Orders
Volkswagen has picked partners to provide battery cells and...
Tehran fell by two places in this year’s ranking to 121st most expensive city in the world, narrowly avoiding the bottom 10.
Tehran is among the least expensive cities in the world to...
Toyota Land Cruiser for Iranian Police Fleet
To renovate police cars in Iran ahead of Norouz (Iranian New...
Iranian Banking Sector Awaits Full JCPOA Benefits
Iran’s Deputy Foreign Minister Abbas Araqchi addressed various...
Foreign Exchange Deposit Regulations Updated
The latest update of regulations concerning foreign currency...
Road Death Toll Rises in Iran
A report released by the Iranian Legal Medicine Organization...