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.
Unlicensed builders will no longer be able to receive construction loans by 2021. One of the problems in the Iranian housing market over the past year has been the reduction of available houses resulting from […]
One of the ever-lasting topics in the Iranian automotive industry, is the huge debts of automakers towards auto-part manufacturers. Since these debts have been accumulated for a long time, auto-part makers claim an interest on […]