TEHRAN, Aug. 18 (Mehr News Agency) - Contracts worth 17 billion euros have been closed with foreign investors in order to bolster units active in the rail industry, said the Roads and Transportation minister.

Islamic Republic of Iran Broadcasting quoted Hamid Behbahani in a gathering of Wagon Pars company employees saying, "If these projects go ahead 10 thousand kilometers will be added to the countries railway network."

Wagon Pars Company in Arak has a nominal capacity to produce annually 1,800 various kinds of wagons including passenger coaches, freight, metro cars and locomotives and is currently working with 20 percent of its capacity.

Wagon Pars started manufacturing different types of rolling stocks in 1984 with the joint investment of Iran Development and Renovation Organization and the Islamic Republic of Iran Railways.

... Payvand News - 08/19/09 ... --