Nanjing Puzhen Co.

Shipping, Energy

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"Another contract was signed on Wednesday between the Industrial Development and Renovation Organization of Iran and CRRC Nanjing Puzhen Co., a Chinese railroad rolling stock manufacturer, for the design, procurement, supply, manufacture and delivery of 450 subway wagons for the Iranian cities of Ahvaz, Shiraz and Tabriz. “The project is worth €۵۰۰ million and will be financed by the Chinese side. The contract was signed by Naqi Manafi, IDRO’s manager for financial and economic affairs, and Wang Tao, general manager of Puzhen,” Ali Araqchi, the manager of IDRO’s international affairs who negotiated the contract, said." (March 8, 2018)


"Iran is signing joint venture agreements with international companies to start manufacturing train wagons in Iran to meet its railroad expansion needs and reduce reliance on imports. Iranian Rail Industries Development Company and Chinese rolling stock manufacturer Nanjing Puzhen Co. LTD. signed an agreement in Tehran on Tuesday to jointly manufacture 215 wagons to be used in subways trains across Iran, IRNA reported." (Financial Tribune, "Iran Opts for JVs to Develop Domestic Wagon Manufacturing," 10/5/2016).


"Chinese firms, such as Nanjing Tankers and Sinochem Corp, have been able to get insurance from domestic providers and were reaping huge profits from conducting the niche trade." (Reuters, "Iran petchem exports plunge due to EU sanctions-traders," 5/17/2012)