By John Lee.
According to Tehran Times, the Chinese military-affiliated Norinco International won a 93 million euro ($100 million) contract to manufacture 70 subway cars for the Tehran Metro.
The cars will be sold to Tehran Wagon Manufacturing Co., a joint venture formed between Norinco, with a 29% stake, together with Tehran’s official subway operator, and a division of China’s top train manufacturer CRRC Corp. Ltd.
In a separate deal, CRRC said that the 200 remaining subway cars from an existing order for 315 will be produced in Iran, instead of China.
(Source: Tehran Times)