Iran Khodro Rail Transport Industries Company (IRICO) was established by Iran Khodro Investment Development Company in 2003 for manufacturing different types of rolling stock.[1] Metro cars, rail buses, light rail vehicles and monorails are among the products of IRICO.
IRICO's manufacturing site was built with an investment of 505 billion Rials in 520,000 square meters in Zanjan province, 500 meters from Gherveh railway station in Abhar city. IRICO products are produced according to the latest European standards. The company exports to South Korea.[2]
IRICO's production capacity is 200 units of passenger cars per year, saving $300 million each year on imports.[3] By implementation of development plan, it will be increased to 400 units per year. Manufacturing activities include production and assembling of the car body, bogie, painting, final assembling and testing.