Train business deal with Iran causes confusion

The details of the reported deal remain unclear Keystone

The Swiss firm, Stadler Rail, has rejected reports that it signed off on a major infrastructure contract with Iran’s Industrial Development & Renovation Organization for 960 wagons for an underground railway system.

This content was published on March 2, 2018 - 08:43 with SDA/ATS, ug

The companyExternal link said there is no deal or decision but merely a public tender, according to SRF public radio.

Iran’s official news agency reported the deal, worth CHF1.3 billion ($1.4 billion), was agreed on the sidelines of a meeting between trade delegations from Switzerland and Iran on Wednesday.

The Swiss embassy to Tehran, quoting Iran’s news agency, specified that the wagons will be in service from the end of 2020 in the capital and its western suburb of Karaj.

It would have been the first major contract between a Swiss and an Iranian company since international economic sanctions against Tehran were lifted more than two years ago.

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