The Industrial Development and Renovation Organization of Iran (IDRO) and Russia's rail equipment producer Transmashholding (TMH) signed a memorandum of understanding for manufacturing railway wagons.

The MOU was signed between the chairman of the board of directors of IDRO, Mansour Moazzami, and the general director of TMH, Kirill Valeryevich Lipa, according to IDRO News.

As per the agreement, IDRO and Russia’s Transmashholding will cooperate on the production of passenger railroad cars.

The MOU had been finalized on Monday during negotiations between the Industrial Development and Renovation Organization of Iran and Transmashholding, which is the largest manufacturer of railway wagons in Russia.

Russia holds one of the biggest rail networks and also one of the largest wagon and locomotive manufacturing industries in the world.

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