Dec 2, 2017, 2:57 PM
News Code: 82749939
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Iran, S Korea ink MoU on railbus manufacturing

Tehran, Dec 2, IRNA – An agreement on producing 450 railbuses was signed on Saturday by Iran Railways, South Korea's Hyundai Rotem and Iranian Rail Industries Development Co (IRIDCO).

The deal will value 720 million euros, Iran's Minster of Roads and Urban Development Abbas Akhoundi said at the signing ceremony held in the Iranian capital.

According to the deal, the railbuses will be produced within 6.5 years, Akhoundi added.

By the time the project is fully implemented, the railbuses can transfer 70 million passengers, the minister said.

He further added that project creates job opportunities for 1,000 people directly and for 1,700 indirectly in Iran.

He concluded that 2,000 people will get jobs after the project is implemented.

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