Iranian rolling stock manufacturer, Wagon Pars Company, built 290 freight and seven passenger wagons in the last Iranian year (March 2018-19) at a cost of 812 billion rials ($6 million), the company’s CEO said.
“We have also begun the construction of 533 more wagons this year, 500 of which will be cargo cars and the remaining 33 will be passenger cars,” Mohammad Reza Bakhtiari was also quoted as saying by IRNA.
According to the official, Wagon Pars has the capacity to build 150 passenger and 1,000 cargo wagons per year.
Wagon Pars, launched in 1974 in the city of Arak in Markazi Province, is a subsidiary of the Industrial Development and Renovation Organization of Iran and the largest manufacturer of freight, passenger and subway wagons in the Middle East.
The Silver Institute has released a report saying global silver demand rose 4% – to 1.03 billion oz. – in 2018. This is the first time since 2015 that demand has risen year-over-year.
Asia's mining sector continues to hold the greatest rewards globally, with positive business environments, rich mineral deposits, supportive infrastructure and political stability in countries holding the top positions in Fitch Solutions' Asia Mining Risk/Reward Index.
Australian rare earths miner Lynas Corp (ASX: LYC) said Wednesday its board has rejected a A$1.5bn (about $1.1B) takeover proposal from Australian retail and industrial conglomerate Wesfarmers.
Kuwait will back an extension of OPEC-led production cuts beyond June if it's clear supply and demand factors warrant it, Haitham al-Ghais, Kuwait Petroleum Corp's manager for market research and the country's OPEC governor, said Wednesday.
Komatsu Ltd. has developed its first battery-powered digger as it follows the auto industry in transitioning away from combustion engines.
Iraqi Finance Minister Fuad Mohammed Hussein and Iranian Economy Minister Farhad Dejpasand pledged to spare no efforts to double the current volume of trade between the two countries.