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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