March 17th, 2017, NORINCO International and Tehran Wagon Manufacturing Co. (TWM) signed a contract agreement with the value of 93.8 million Euro and 12-month contract period. NORINCO International will provide 70 aluminum alloy metro wagons and spare parts for the employer.
Established in Iran in 2003, TWM is a joint venture that manufactures and assembles railway transportation vehicles, with the annual capacity of assembling 450 metro vehicles and 72 double-deck passenger cars, manufacturing 140 metro vehicle frames and 72 double-deck passenger cars. It is the only company that licensed by the Iranian Ministry of Industry in double-deck passenger cars, vehicle manufacturing and maintenance in Iran. In the past decade, TWM serves not only a platform for the Chinese railway products and manufacturing abilities to“Go global”, but also introduces relevant standard, advanced technology and brand into Iranian market. It also transforms the Chinese strengths in capacity, technology and finance into international operation advantage. Through TWM, NORINCO International has already signed contracts with the value over USD 3 billion in railway wagon procurement and has promoted the mechanical and electrical products with the export value of over USD 1 billion.