CRRC Changchun Railway Vehicles Co.

"CRRC Changchun Railway Vehicles Co will supply 100 subway cars for Metro Line 2 in Mashhad, the second-biggest city in Iran in May, the company told China Daily on Thursday. As a subsidiary of China Railway Rolling Stock Corp Ltd, the country's railway vehicle and equipment maker and exporter, CRRC Changchun completed trial operations of the Mashhad metro line this month. The 100 subway cars will be formatted in five sets, said the media office of CRRC Changchun. CRRC Changchun said that Metro Line 2 in Mashhad is just one aspect of the company's business in the country. It already started to ship subway cars to Iran in 2016 after it signed a $1.39 billion contract to supply 1,008 subway cars to Teheran, the Iranian capital, over a five-year period. Iran plans to open 30 urban rail lines in nine cities over the next five years, with a total length of 350 kilometers. The demand for rail vehicles is expected to reach 2,000 subway cars." (China Daily, "CRRC to Supply Iranian City with 100 Subway Cars," 2/24/2017). (http://www.chinadaily.com.cn/business/2017-02/24/content_28328936.htm)

Chinese rolling stock company, CRRC Nanjing Puzhen, signed a deal with Iran’s Industrial Development and Renovation Organization (IDRO) on Wednesday for financing the joint manufacturing of subway wagons in Iran. Based on the contract, the Chinese side is going to collaborate with an Iranian company called Wagon Pars Arak in Markazi Province to build 450 wagons, IRNA reported. “China’s Puzhen to finance manufacturing subway wagons in Iran,” Tehran Times (Iran), March 7, 2018. (https://www.tehrantimes.com/news/421874/China-s-Puzhen-to-finance-manufacturing-subway-wagons-in-Iran)

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"CRRC Corp. reportedly supplies transportation products to Iran through a contract with Iran's state-owned Industrial Development & Renovation Organization. In 2020, CalSTRS identified CRRC Corp. as potentially having ties to Iran and began the review process." (https://www.calstrs.com/sites/main/files/file-attachments/calstrs-investment-reports-2020.pdf?1609284307)

Feb 2017 – “CRRC Changchun Railway Vehicles Co will supply 100 subway cars for Metro Line 2 in Mashhad, the second-biggest city in Iran in May, the company told China Daily on Thursday.” (http://www.chinadaily.com.cn/business/2017-02/24/content_28328936.htm)