Siemens signed an agreement to upgrade Iran’s aging railway infrastructure, in the German engineering conglomerate’s latest effort to capitalize on the Islamic Republic’s blueing economic opening.
As part of the deal agreed with Iran’s industrial MAPNA Group, Siemens plans to supply components for 50 diesel-electric trains to be developed locally for the country’s state-owned railway system, the company said.
The deal was signed during an official German delegation visit to Iran that included the economics minister, Sigmar Gabriel, and German business officials.
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