Pursuant to the agreement of 21 December 2004 between the authorities of the Niroo Investment Co. andthe Rail road company of the Islamic Republic of Iran amd in accordance with the letter of 26 February 2005 issued the esteemed board of directors of Rail Road Co. of the I.R.I, the preparatory measures for estamblishment of the Niroo rail transportation Company with registered capital of one hundred billion rials were approved by the constituent assemblies of the shareholders.
Thus, in the first phase the Niroo rail transportation co. was registered under No.250728 on 23 July 2005 in the companies and non-commerical institutions registration department of Tehran