(MENAFN) A memorandum of understanding for obsolescence management has been signed between Iran's state rail company and Switzerland's rail tracks maintenance machines manufacturer Matisa.
Press TV reported that the agreement entails that Matisa is to be responsible for the revamp of ballast machines, tampers and regulators, along with sourcing 21 track machines with Iran's RAI railway company.
The contract is initially at a worth of 20 million euros and is to increase to 80 million euros by time, as stated RAI Deputy Head Maziar Yazdani.
During the signing ceremony, Matisa CEO Franz Messerli said "Switzerland has been a neutral country for hundreds of years, and has always maintained its neutrality on political issues."
MENAFN2106201800450000ID1097047175
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.