Economy, Domestic Economy
0

Stadler Dismisses Wagon Deal Report

Stadler Dismisses Wagon Deal ReportStadler Dismisses Wagon Deal Report

The Swiss firm, Stadler Rail, has rejected reports that it signed off on a major infrastructure contract with Iran’s Industrial Development & Renovation Organization for 960 wagons for a subway system, Swiss Broadcasting Corporation’s  news and information platform Swissinfo reported on Friday.

The company said there is no deal or decision but merely a public tender, according to SRF public radio.

Iran’s official news agency IRNA reported the deal, worth €1.1 billion, was agreed on the sidelines of a meeting between trade delegations from Switzerland and Iran on Wednesday.

The Swiss Embassy in Tehran, quoting IRNA, specified that the wagons will be in service from the end of 2020 in the capital and its western suburb of Karaj.

“On the margin of the First Iranian-Swiss Economic Commission meeting in Tehran, a major infrastructure deal was signed. By the end of 2020, Iranians will enjoy Swiss metro trains,” the embassy tweeted.

It would have been the first major contract between a Swiss and an Iranian company since international economic sanctions against Tehran were lifted more than two years ago.

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com