The state-backed Iran National Innovation Fund plans to lend 600 billion rials ($2.4 million) to local tech and knowledge-based businesses to accelerate the indigenization of subway trains and other related components.
Ali Vahdat, the head of INIF, said that with the extension of Tehran Metro, the need for undertaking timely repair and upgrading trains is evident, SNN reported.
INIF’s financial aid was offered during the Sunday inauguration of a production line for subway train parts in Tehran.
The event was attended by Vice President for Science and Technology Sorena Sattari, the head of Plan and Budget Organization, Mohammad Baqer Nobakht, and Tehran Mayor Pirouz Hanachi.
At the ceremony, Vahdat said over 18 knowledge-based companies, Tehran Wagon Manufacturing Company, the Academic Center for Education, Culture and Research, Abhar Network Rail Industries Development Corporation and MAPNA Group have collaborated in the subway localization efforts.
Vahdat said the production line is a follow-up to a subway train localization project announced in August 2020.
March 17, 2021 19:04
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Firms Receive Gov’t Support to Indigenize Subway Technology
Subway train indigenization reached 85% after leading Iranian tech firms launched a joint effort. Earlier, the share of local companies in train production was hardly 30%
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