Russian company CJSC Transmashholding has signed a €2.5bn ($2.95bn) deal with the Iranian Industrial Development and Renovation Organisation (IDRO) to set up a rolling stock manufacturing joint venture (JV) in Iran.

CJSC Transmashholding will hold 80% stake in the JV, while the remaining 20% will be owned by IDRO.

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Iran will receive 1,100 freight units from Russia, with a further 5,000 wagons to be produced jointly in Iran, as part of an initial agreement entered by the two nations in 2016.

The New York Metropolitan Transportation Authority has awarded a contract to OHL Group subsidiary Judlau to renovate and improve the Canarsie Tunnel in New York at an estimated cost of €447m ($529m).

Judlau will execute the agreed works as part of a JV with TC Electric.

"The New York Metropolitan Transportation Authority has awarded a contract to OHL Group subsidiary Judlau to renovate and improve the Canarsie Tunnel in New York."

The Canarsie Tunnel suffered a major damage by Hurricane Sandy in 2012.

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The JV will repair the damages suffered by the Carnarsie Tunnel as a result of Hurricane Sandy in 2012, in addition to replacing components such as roadbed, tracks, sleepers, and others.

It also plans to modernise the associated structures, lighting, signals and communications systems of the tunnel.

Transport en Commun de l'Agglomération Clermontoise (T2C) Clermont-Ferrand (France) has awarded a 'repairs and spares' deal to Liebherr-Transportation Systems for the ST4 trams.

The company will be responsible for providing repair services and spare parts for heating, air-conditioning and ventilation (HVAC) systems on-board the trams on an on-demand basis for a three-year period.