Economy, Domestic Economy
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Iran, Swiss Group Sign €1.1b Subway Car JV

Iran, Swiss Group Sign €1.1b Subway Car JVIran, Swiss Group Sign €1.1b Subway Car JV

Iran's drive to bolster the role of railroads in domestic transportation made fresh headway, as the Industrial Development and Renovation Organization of Iran and the Swiss company Stadler Rail Group signed a contract worth €1.1 billion on Wednesday for the construction of 960 subway wagons for the cities of Tehran and Karaj. 
The Swiss company will finance the project that has a 14-year payback period and is guaranteed by Swiss Export Risk Insurance, IRNA reported.

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