New Delhi, Jan 12, IRNA – Tehran signed a memorandum of understanding (MoU)with New Delhi on Friday to buy 200 locomotives and cargo wagons from India.
Financial sources needed for enforcing the deal, which amounts to $600million, will be secured by India. An Indian state-run company named Ritesis in charge of providing the locomotives to Iran.
The MoU was signed during the three-day visit of Iran’s Road and UrbanDevelopment Minister Abbas Akhoundi to India by Deputy Head of Iran RailwayCompany for Planning and Economy of Transportation Nourollah Beiranvand andManaging Director of State Locomotive Company Rajeev Mehrotra in New Delhi.
Akhoundi told IRNA on Friday, ‘Based on the MoU, part of the locomotiveswill be produced in Iran, so we should try to turn the MoU into a deal.’
Noting that the MoU will mark a major industrial cooperation between thetwo countries, he said that the cooperation will last at least three years.
‘Since India’s railway industry enjoys modern technology, we will strive toturn some sections into official deals during President Rouhani’s upcomingvisit to New Delhi,’ he said.
Akhoundi arrived in New Delhi on Wednesday on a three-day official visit atthe head of a delegation comprising private sector activists to helppromote mutual cooperation in the field of transportation.