AKnews reports that an Iranian company called Waxon Park is going to invest in the Iraqi Republic Railways Company (IRR).
Jawad al-Kharsani, spokesman for the Iraqi Transport Ministry, said that Waxon Park will first rehabilitate the factory in Samawa and then the railway system and rolling stock.
“We have not yet outlined the final costs of the project,” said Kharsani. “But in a first phase, Waxon Park will restore 45 vehicles when the factory is working again.”
The Ministry has recently been complaining that the funds allocated in the 2012 budget are not enough.