The two memorandum of understanding was signed at a ceremony in Tehran attended by Road Minister Farzane Sadegu, as reported by Tasnim News Agency.
According to two Mouss, the private sector is implementing supplying over 2,000 passenger rail vehicles and freight wagons with over 6400 billion investments.
Private Holding has agreed to invest 300,000 billion rillion in the purchase and production of 650 different cargo wagons to carry crops.
The vice-chairman of the Islamic Republic of Iran announced at the ceremony that a long-term plan has been devised to increase the volume of railway freight to 40 million tonnes.
He also said there will be an arrangement to attract $6.4 billion in investments into the rail industry, with 77% of which being allocated to the fleet and 23% being allocated to infrastructure.
MP/