Industry Rail transportation Founded 2003 | Products rolling stock | |
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Owner Tose-e-Tarabar Raili Iranian (100%) | ||
Iranian Rail industries development Co (IRICO) (Persian: ایریکو) is an Iranian manufacturer of passenger rolling stock. The company was founded in 2003 and began series production of rail vehicles in 2009. The company has license manufactured rolling stock in cooperation with Hyundai Rotem
History
Iranian Rail industries development Co (IRICO) was founded in 2003 by the Iran Khodro Investment Development Co (see Iran Khodro) with the aim of domestic manufacture of rolling stock including metro, suburban, light rail and monorail vehicles. A $45 million investment established a factory in Abhar, Zanjan province Iran.
In 2004 Rotem entered into a technology transfer and manufacturing agreement (value €110 million) with IRICO for the supply of passenger trainsets; 24 units were to manufactured by Rotem in 2006, 24 assembled from CKD kits by IRICO, and the remainder manufactured by IRICO with Rotem assistance. The trains were manufactured for the Raja Passenger Train Company.
Production at the plant began in February 2009 after a formal inauguration in December 2008; at inception the plant had a capacity of 100 vehicles p.a. with single shift working.
In 2010 IRICO won a contract to supply 135 vehicles for the Shiraz Metro.
In March 2011 IRICO was acquired by TTRICo (Tose-e-Tarabar Raili Iranian Co) from Iran Khodro.