This memorandum, which has been signed by the CEO of Shahr Industries and Mines Development Group and the CEO of Zarin Khodro Company, will provide the necessary preparations for the final contract of technology transfer and joint production of 12 and 18 meter buses with a reputable European company.

In this memorandum, the European company entered into an agreement with the city’s industries and mines development group, in addition to providing technical support in equipping and setting up production lines, it will also assist in training technical forces.

Also, the financing of this project is to be done by allocating a financial line by Exim European Bank and with the support and guarantee of Shahr Bank, according to this, it will start with the allocation of 45 million euros for the production of 200 intra-city buses for the first phase of the implementation of this project. It is expected that for the second phase, another 400 buses will be jointly produced and added to the urban transport fleet.

Considering the majority of Bank Shahr’s shares belong to the municipalities of the country’s big cities and in line with fulfilling social responsibilities and supporting urban construction and development, participation and support for the modernization of the urban bus fleet is a special part of the agenda of the Industries and Mines Development Group. Shahr (from the holding affiliated to Shahr Bank) is located.

It is worth mentioning that considering the designation of the year 1395 by the leader of the revolution, Farzaneh, as the year of resistance economy, action and action, as well as the policies announced by the respected government, the city’s industries and mines development group held intensive negotiations with reputable manufacturers and companies. The foreigner has concluded that the initial memorandum of understanding with the European bus company will provide practical grounds for enjoying and benefiting from the world’s modern technology and standards more than in the past.

Also, by allocating the credit and financing of this project by Exim European Bank, the assembly and construction of modern 18 and 12 meter buses in Zarin Khodro Company will provide speed and new life in the product production cycle and the ability to localize city buses.

Zarin Khodro Company has received all the standards of the world and with more than 120 expert staff, equipped industrial facilities and sheds with an area of ​​12 hectares, it is considered one of the most reliable bus manufacturing companies in the country.