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.
Although Iran foreign investments can help to bypass US sanctions but the rout is not smooth. Sputnik news agency writes that the USA is following such activities and tries to block them whenever it can. […]
More fish to be exported In a visit to Dezful, the Head of Iran Fisheries Organization, Hasan Salehi said: “For the Iranian fiscal year 1400 (2021) we aim to export fishery products worth 900 million […]
The Ministry of Roads and Urbanization has announced the latest status of Indian and South Korean investments in Iran’s railway projects. Iran is in talks to finalize Indian investment for the Chabahar-Zahedan-Birjand-Mashhad rail project. Indian […]