On July 30, Karabuk-based Turkish long steel producer Kardemir announced that it signed an agreement with Iranian State Railways for the supply of rail tracks.
According to the agreement Kardemir will supply 30,000 metric tons of UIC-60(860-O)900 grade rail tracks to Iranian state railways. Preparations regarding letter of credit and letter of guarantee are continuing, while the financial details of the agreement have not been disclosed.
As SteelOrbis previously reported, in early May this year Kardemir announced that it was carrying out negotiations with Iranian State Railways to supply rail tracks and that a group of representatives from Iranian State Railways had visited the company.