News ID: 263000
Published: 0422 GMT December 15, 2019

Nearly $43b needed for completion of transport infrastructure projects

Nearly $43b needed for completion of transport infrastructure projects

Iran needs about $42.8 billion of financial resources for completing its transportation infrastructure projects, said deputy roads and urban development minister for resource planning and management.

Speaking on the sidelines of the 4th International Exhibition of Transportation, Logistics, and Related Industries, Amir-Mahmoud Ghaffari said: “In this regard, the Transport Development Fund was established as the only specialized and financial institution in the field, for supporting the Transport Ministry’s infrastructure projects and the modernization of the transport fleet,” mrud.ir reported.

According to Ghaffari, the main goal of the Transport Development Fund is to create a mechanism for providing sustainable revenue sources for the development of the country’s transport infrastructure, equipping its fleet, promoting safety and increasing the level of freight and passenger transport services, while encouraging and supporting investment for construction, development, and maintenance of the transport networks and the country’s infrastructure.

The official also mentioned a 44-trillion-yuan funding by foreign investors in the country’s railway projects, saying that the priority projects for this finance include Kermanshah-Khosravi railway in western Iran, Shiraz-Bushehr railway, Tehran-Qom-Isfahan railway, and Tehran-Hamedan-Sanandaj railway.

In June, Iran’s Roads and Urban Development Ministry announced that the government allocated 190 trillion rials (over $4.5 billion) for establishing a transport development fund.

According to Roads and Urban Development Minister Mohammad Eslami, “The establishment of the transport development fund was envisioned in the country’s Sixth Five-Year National Development Plan (2016-21).”

Opened by Eslami on Sunday, the 4th International Exhibition of Transportation, Logistics, and Related Industries is being held in Tehran and will be wrapped up on Tuesday.

In the past two decades, Iran’s transportation infrastructure has gone through major transformation and every year the country is advancing more in this area.

   
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