Iranian Govt Earmarks $462m for Rail Expansion

By John Lee.

Financial Tribune reports that the Iranian government has earmarked 18.5 trillion rials ($462 million) to complete a set of ongoing rail projects.

Jabbar Ali Zakeri, a board member of the Construction and Development of Transportation Infrastructure Company (CDTIC), was quoted by IRNA as saying:

“This includes 4.7 trillion rials ($117 million) for land-ownership and procurement of equipment, as well as 13.8 trillion rials ($345 million) worth of participation bonds.”

The funding will help Iran push ahead with the construction of five rail projects, including Tehran-Saveh-Hamedan, Mianeh-Bostanabad, Maragheh-Urmia, Qazvin-Rasht and the so-called Gharb (west) rail projects.

According to Islamic Republic of Iran Railways, Iran plans to add 1,000 kilometers of new railroads to its network in the near future. This indicates a significant rise in rail construction, compared to an average of 200 kilometers constructed annually over the past few years.

(Source: Financial Tribune)

(Picture: Tasnim)

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