Joint investments, rail technology transfer with France: Minister

IRNA – The concluded rail agreement with the French company Alstom is for the utmost use of domestic capacities, said the minister of Industry, Mine and Trade on Sunday evening.

“The agreement was signed to make contribution to investment, technology transfer, production and export, and the maximum use of domestic capabilities,” said Mohammad Reza Nematzadeh.

“Alongside this agreement, several other agreements will be signed with other companies to supply the parts and components including the engine, rail, break, and electrical systems,” the minister added.

“It is estimated that 1,000 train cars will be manufactured with the participation of Alstom and with regard to their main share in this agreement, we also desired to export the cars in addition to supplying domestic needs,” he said.

Alstom, a French multinational company operating worldwide in rail transport markets, is active in the fields of passenger transportation, signaling and locomotives, with products including suburban, regional and metro trains.

The joint agreement to manufacture suburban and regional metro trains was signed between Industrial Development and Renovation Organization of Iran (IDRO), Alstom, and Iranian Rail Industries Development Co (IRICO) and the companies have their shares in the agreement respectively 20, 60, and 20 percent, according to the minister.