The company has won the deal in six years after a similar contract had to be put on hold due to the imposition of international sanctions on Iran in 2010.

Under the agreement, RAI will purchase 150 diesel multiple unit (DMU) cars from Hyundai Rotem. Korea's Ministry of Strategy and Finance will finance 85% of the contract, while the Iranian government will underwrite the cost. The two companies will ink the official contract in late July through negotiations on commercial and technical conditions...