Economy, Domestic Economy

Iran Signs Rail MoU With Deutsche Bahn

Rail MoU With Deutsche Bahn
Rail MoU With Deutsche Bahn

A memorandum of understanding was signed between Iran’s Bon Rail Company, a rail passenger transport firm affiliated with Iran’s Mostazafan Foundation, and German rail company Deutsche Bahn AG on the sidelines of the Fifth International Exhibition of Rail Transportation, Related Industries and Equipment, which was held in Tehran on May 15-18.

Some 300 domestic and foreign companies, including those from Sweden, Switzerland, Belgium, France, India, Ukraine, New Zealand, Turkey, Latvia, Spain, Russia, China, Serbia, the Czech Republic, Italy and Germany, participated in the event.

The MoU pertains to “technical and financial cooperation”, Bon Rail CEO Alireza Sheikh-Taheri was quoted as saying by IRNA.

“Based on the MoU, Deutsche Bahn will provide us with financial and technical consultation,” he said, adding that Bon Rail has previously signed a contract with DB to “improve its fleet”.

Established in 1994, Deutsche Bahn is a private joint-stock company headquartered in Berlin, with the Federal Republic of Germany being its sole shareholder. It carries about 2 billion passengers each year.

Bon Rail has 128 passenger wagons in its fleet with the average age of 11 years. The company transported 1.7 million passengers in the last Iranian year (ended March 20, 2017).

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