Croatian rolling stock manufacturer TZV Gredelj has agreed with Iranian railway companies to revamp locomotives and passenger carriages. The value of the deals is over USD 100 million.
The deals were negociated with some of Iran’s biggest companies in the railway industry including Raja, Mapna, Taamloko and Wagonpars.
TZV Gredelj, which recently concluded bankruptcy proceedings, needs the financial backing of the Bank of Reconstruction and Development and other financial institutions in order to seal these deals, Gredelj’s bankruptcy trustee Pero Hrkac said.
Gredelj entered bankruptcy in 2012, but has since maintained operations.
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