By  Trend

France’s Alstom has signed a Memorandum of Understanding (MoU) with the Industrial Development & Renovation Organization of Iran (IDRO) to establish a joint venture to manufacture metro wagons for urban transport, Mehr news agency reported July 24.

The report didn’t elaborate the exact value of project, but said that the joint venture would manufacture 1000 wagons per year. Alstom would take a 60-percent stake in the project.

Alstom signed a MoU with IDRO in February 2016 to develop industrial cooperation with Iran in the field of mainline and urban transport.