TEHRAN – Iran and China signed a deal worth €70 million on Monday to collaborate on manufacturing 50 electro-diesel freight locomotives in Iran.

According to the Ministry of Transportation news portal, the trilateral deal was signed between Wagon Pars and Alborz companies from Iran and the Chinese giant locomotive manufacturer CRRC Dalian Co.

The Iranian Transport Minister Abbas Akhoundi and representatives of the Iranian and Chinese companies attended the signing ceremony.

As reported the contract is comprising three sub-contracts, including one on technology transfer from CRRC Dalian to Wagon Pars Company.

Earlier in March, Chinese rolling stock company CRRC Nanjing Puzhen also signed a deal with Iran’s Industrial Development and Renovation Organization (IDRO) for financing the joint manufacturing of 450 subway wagons in Iran.

EF/MA