Iran Khodro Rail Transport Industries Company (IRICO) was established by Iran Khodro Investment Development Company in 2003 for manufacturing different types of rolling stock. 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

Iranian rial

The rial is the currency of Iran. It is subdivided into 100 dinar but, because of the very low current value of the rial, no fraction of the rial is used in accounting....

 in 520,000 square meters in Zanjan province

Zanjan Province

Zanjan Province is one of the 31 provinces of Iran. Located in the North West of Iran, its capital is Zanjan city. Zanjan province with an area of 36,400 km² has a mostly rural, population of 964,601 . The province lies 330 km northwest of Tehran, connected to it via a freeway.Zanjan...

, 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

South Korea

The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...

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IRICO's production capacity is 200 units of passenger cars per year, saving $300 million each year on imports. 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.