Siemens to supply 50 diesel-electric locomotives to Iran

October 3, 2016 - 19:38

FRANKFURT (Reuters) - Siemens on Monday said it had signed a contract to supply components for 50 diesel-electric locomotives to Iran, further strengthening its business ties with the country.

Under the contract, signed with Iranian power and infrastructure group Mapna during an official visit of German Economy Minister Sigmar Gabriel to Iran, Siemens will deliver the components, which will be assembled in Karaj, Iran's fourth-largest city.

"As Iran seeks to modernize its railway infrastructure, Siemens is proud to support these ambitions with modern rail systems," Siemens management board member Siegfried Russwurm said in a statement.

Siemens did not disclose the value of the contract. Based on comparable deals, the order could be worth a low triple-digit million euro amount.

The order comes after Siemens in March signed an agreement with Mapna under which Mapna will acquire the technology to manufacture Siemens F-class gas.

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