The government in Tehran has earmarked 18.5 trillion rials (USD 572 million) to complete a set of ongoing rail projects, Jabbar Ali Zakeri, the Construction and Development of Transportation Infrastructure Company’s board member said.
“This includes 4.7 trillion rials (USD 145 million) for land-ownership and procurement of equipment, as well as 13.8 trillion rials (USD 426 million) worth of participation bonds,” said Jabbar Ali Zakeri quoted by IRNA.
According to Zakeri, the resources 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.
Rail expansion is a top priority in Iran’s sixth five-year development plan (2016-21), which is currently being reviewed in the parliament. Earlier this month, Iranian MPs approved a bill to allocate 1% of oil revenues to the rail sector as part of the Sixth Plan.
Iran has a long list of under-construction rail projects, as the country seeks to increase revenues from transit by becoming a transport hub in the region.
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