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TEHRAN, January 12 - Iran and Indian signed a Memorandum of Understanding (MoU), based on which Iran would buy 200 locomotives from India.
TEHRAN, Young Journalists Club (YJC) - India is going to provide $600 million finance for the project.
The MoU was signed during a visit by Iranian Minister of Road and Urban Development Abbas Akhoundi and a delegation to India.
The MoU was inked by Iranian Deputy Head of Railway Company for Planning and Economy of Transport Affairs Nourollah Beiranvand and Indian Rites Chairman & Managing Director Rajeev Mehrotra.
Some parts of the locomotives would be produced in Iran, Akhoundi said, adding implementing the agreement would take three years at least.
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