Mohsen Pourseyyed Aghaei, the President of Islamic Republic of Iran Railways (RAI) and Jochen Eickholt, the CEO of the Mobility Division of Siemens signed a Memorandum of Understanding (MoU) on Thursday.
With RAI being keen on expanding the country’s railroads in various areas and the German company being interested in developing cooperation with Iran’s railway, the two sides have signed an MoU in several sectors.
Siemens has had long-term business relationships with Iranian customers and partners and the new deal pertains to different issues including electrification of Tehran-Mashhad railroad, construction of Tehran-Isfahan high-speed railway, provision of 500-passenger train coaches, upgrading and development of railway systems as well as training and technology transfer.
On the basis of the terms of the MoU, the German engineering powerhouse will in most of its projects be obliged to team up with Iranian companies aimed to transfer know-how to the Iranian companies.
The German company will provide the signaling equipment, the electric locomotives, passenger train coaches as well as the related maintenance services for the railroad.