France's Alstom to invest €1.2b in Arak Pars Wagon

EghtesadOnline: France's Alstom Company plenipotentiary representative in Iran Vincent Douret announced on Monday the company is to invest 1.2 billion euro in Arak Pars Wagon by finance.

News ID: ۷۷۹۲۸۰

18 September 2017

He made the remarks in a meeting with Governor General of Markazi Province Mahmoud Zamani Qomi and Majlis deputy from Arak Mehdi Moqaddasi.

According to IRNA, the cooperation contract is to be signed by the Industrial Development and Renovation Organization (IDRO), Trans Russ Company and France's Alstom to manufacture passenger wagons, metro carriages and spare parts in Arak Pars Wagon complex.

Zamani Qomi said that Markazi province is ready for every kind of cooperation for investment and presence of France's Alstom Company here to manufacture wagons in APW and its investment is supported and welcomed here.

Moqaddasi said Joint Comprehensive Plan of Action (JCPOA) prepared ground for foreign investment and presence of foreign companies in Iran.

He added that Majlis (parliament) supports memorandum of understanding for investment in the country and is ready for cooperation with foreign investors.

Aral Pars Wagon Company was founded in 1975 and is the largest manufacturer of locomotive, cargo and passenger wagons and metro carriages in the Middle East.