South Korea to finance the construction of 450 rail bus wagons which are to be constructed by Hyundai Rotem and Iranian IRICO. The contract, which was signed on Monday, is valued at 700 million euros. Abrar-e-Eghtesadi writes, Iran has signed another contract with South Korea to purchase 150 other wagons, the first 50 of which are underway. The Minister of Roads and Urbanization has said that the manufacture of 450 wagons will take 6.5 years. This project is expected to provide direct employment for 1000 people and indirect employment for 1700 people. Based on numbers from the Islamic Republic Iran Railways, by the end of 2013, 25 million people were transported via railway and Iran plans to increase its rail capacity to 160 passengers by 2025.
Tehran International Book Fair, the largest cultural event in Iran, was inaugurated on Wednesday, May 2. In 2018, 1900 Iranian and 149 foreign publishers from 21 countries participated. What can distinguish Tehran Book Fair from […]
The Iranian President’s visit to India was among the most important events of the week. India reversed a law which had previously only benefited investors in Bhutan and Nepal, allowing Indian investors to use rupees […]
Iran and Vietnam move towards free trade. In the 9th Joint Economic Commission Meeting between Iran and Vietnam in Tehran, the Minister of Industry and Mining, Mohammad Reza Nematzadeh, announced an agreement for preferential trade […]