Uralvagonzavod to build 5000 freight cars for Iran

Uralvagonzavod to build 5000 freight cars for Iran

Vnesheconombank (VEB) will provide a loan of 11.2 billion rubles to Uralvagonzavod to cover costs of the National Welfare Fund (NWF) on construction of 5000 freight cars, Russian media report.

"Last Thursday, VEB's supervisory board approved a credit line to Uralvagonzavod in the amount of 11.2 billion rubles for the construction and delivery of freight cars to Iran. The loan will be granted at a rate of 8.23% annually," Kommersant reports.

The deliveries are expected to begin in 2017.

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