64706
Wagon Pars Back on Its Feet
Wagon Pars Back on Its Feet

Wagon Pars Back on Its Feet

Wagon Pars Back on Its Feet

CEO of Iran’s Wagon Pars Company says his company was revived under President Hassan Rouhani’s government, which has boosted rail expansion with an eye on propping up domestic industries.

“Wagon Pars is currently working at minimum capacity. With the government’s support, the capacity can be increased,” Mohammad Mokhtari was also quoted as saying by ILNA. He referred to a deal Iran recently reached with the Russian wagon manufacturer United Wagon Company to jointly produce 6,000 freight cars with Iranian companies, noting that Wagon Pars will produce 2,200 wagons as per the contract.

Based on the €300 million deal signed in February, the Russian company is committed to supplying the wagons within three years, of which 4,900 are to be produced in Iran.

A total of 1,100 CBU (completely built unit) wagons are to be shipped to Iran within two years, 900 of which are to be imported by February 2018, according to a press release of the Ministry of Industries, Mining and Trade. UWC says it will soon start supplying freight wagons, as part of the deal financed by the Russian state-owned import/export insurance company EXIAR.

The 4,900 cars will be produced jointly with three Iranian companies, including Wagon Pars.  Arak Steel Company will produce 1,250 cars and the remaining 6,000 wagons will be produced by Wagon Kowsar.

 

Short URL : https://goo.gl/9djEfh
  1. https://goo.gl/OcpcO2
  • https://goo.gl/q2YZ67
  • https://goo.gl/yqArXk
  • https://goo.gl/m9FPc5
  • https://goo.gl/XWC8j1

You can also read ...

Italian investment companies remain active in Iran, despite...
Iran, India Leading Global Ammonia Capacity Growth
Iran and India will continue to lead the global ammonia market...
Iran-Russia Non-Oil Trade Sees Over 80 Percent Hike (September 2018)
Iran traded 956,662 tons of non-oil commodities worth close to...
US Sanctions Against Iran Ridicule Int'l Norms
Foreign Ministry Spokesman Bahram Qasemi on Wednesday...
Iran Auto Industry Hither and Thither
Over the past few days, Iran’s beleaguered auto industry has...
Iranian Insurance Firms' Premium Income Exceeds $1.2b in H1 (Mar-Sep 2018)
Iran insurance industry earned 183 trillion rials ($1.28...
Iran Slips 1 Spot in WEF's Global Competitiveness Index
The World Economic Forum’s “Global Competitiveness Report 2018...
First-Timers Constitute 20% of Tehran Homebuyers
First-time homebuyers have accounted for a 20% share of total...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus