Transport Development Fund to be established

TEHRAN, Jun. 22 (MNA) – Minister of Roads and Urban Development Mohammad Eslami announced on Saturday that the Transport Development Fund will be established using a budget of 19 trillion rials (above $145 million).

Establishemnt of this fund was planned in the Sixth National Five-Year Development Plan (2016-2021) utilizing 19 trillion rials of budget, the minister said.

Earlier on June 9 and on the sidelines of the 7th edition of the International Exhibition of Rail Transportation, Related Industries & Equipment (RAILEXPO 2019), Eslami had elaborated his ministry’s priorities during the current Iranian year (ending on March 20, 2020).

He named holding talks with Iraqi side on selecting a contractor for Shalamcheh-Basra railway (construction of a 32 km railway inside Iraq from Shalamcheh to Basra) besides conducting negotiations with domestic and foreign investors to run railway projects including Chabahar-Zahedan railway and Isfahan Bafgh railway.

Noting that the volume of activities is ever-increasing in the railway sector, the minister underlined that the US sanctions should be converted into an opportunity to reach a prosperous economy.

Iran’s railway industry is aimed at overcoming the current US sanctions.

HJ/ 4647681

News Code 146756

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