People
0

Deal Worth $51m for Expanding Tehran Public Transport Fleet

During a Saturday visit to IKCO’s bus production line, Tehran Mayor Pirouz Hanachi and CEO of the automotive company, Farshad Moqimi, signed a deal for the delivery of 110 buses and 130 minibuses to TM
Deal Worth $51m for Expanding Tehran Public Transport FleetDeal Worth $51m for Expanding Tehran Public Transport Fleet

A deal backed by the government worth 10 trillion rials ($51 million) has been signed by Tehran Municipality and Iran Khodro (IKCO) to add 230 buses and minibuses to the capital city’s public transportation fleet.
During a Saturday visit to IKCO’s bus production line, Tehran Mayor Pirouz Hanachi and IKCO’s CEO Farshad Moqimi signed the deal on delivering 110 buses and 130 minibuses to the municipality, the automaker’s news website Ikcopress.ikco.ir reported.
The automaker is committed to start delivering the vehicles within a month.
A memorandum of understanding was also signed by the two sides on the production of 800 more vehicles by the end of the current Iranian year (March 2021). This initiative is to be financed jointly by the government and TM.

Premium

Subscribe to the Financial Tribune to continue reading this article or Log in to your account if you are already a subscriber.

Find out more about our subsciption plans here.

Add new comment

Financialtribune.com