TEHRAN, Young Journalists Club (YJC) - Hyundai Rotem, a South Korean manufacture of rolling stock, signed the agreement with the Iranian Rail Industries Development Co (IRICO) in Tehran Saturday, deputy head of the Islamic Republic of Iran Railways Babak Ahmadi said. Two-thirds of the carriages will be manufactured in Iran and the rest in South Korea which will also provide finance, Deputy Minister of Roads and Urban Development Saeed Mohammadzadeh said. "The duration of the project is 78 months, and the first set of the carriages will be delivered in less than 1.5 years," he said. Iran's Minister of Roads and Urban Development Abbas Akhundi (2nd L) addresses a meeting with South Koreans in Tehran, Dec. 2, 21017.