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Russia’s Uralvagonzavod in talks on cargo railcar JV in Iran

September 09, 2014, 19:59 UTC+3
A representative of Uralvagonzavod has confirmed, without elaborating, that the company has held negotiations with Iran on the issue
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© ITAR-TASS

MOSCOW, September 9. /ITAR-TASS/. Russia’s state-owned railway equipment and tank maker Uralvagonzavod (UVZ) is discussing with Iran a possibility of launching a joint venture to produce cargo railcars in the country, a source close to the negotiations said on Tuesday.

“One of the projects is the most advanced - the opportunity to jointly produce cargo railcars to fulfill needs of Iranian Railways,” the source said. The joint venture may be launched in 2015, he said.

A representative of Uralvagonzavod has confirmed, without elaborating, that the company has held negotiations with Iran on the issue.

Earlier on Tuesday, Russian Energy Minister Alexander Novak said that several companies, including Uralvagonzavod, are interested in supplies of their products to Iran and in establishment of joint ventures, including assembling ones, with local companies.

In August, Russian Railways and Iranian Railways signed a memorandum of understanding to speed up implementation of railway projects in the country.

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