Dec 22, 2010, 8:12 PM

Iran allocates $9.6b for 5 railway projects

TEHRAN, Dec. 22 (MNA) -- The Iranian government has approved the allocation of 100 trillion rials (about $9.6 billion) for the construction of five new railway lines.

The Sari-Rasht, Chabahar-Zahedan-Mashhad, Tehran-Hamedan-Sanandaj, and Doroud-Boroujerd lines, and the second Tehran-Miyaneh line will be constructed in the projects, Islamic Republic of Iran Broadcasting reported.

Meanwhile, on December 18 the Economic Council of Iran allocated $12.5 billion for the construction of nine other railway lines.

The Qazvin-Rasht-Anzali, Shiraz-Bushehr-Assaluyeh, Qazvin-Qom, Miyaneh-Ardebil, Maragheh-Oroumiyeh, Yazd-Shiraz, Golgohar-Shiraz, Gorgan-Bojnurd-Mashhad, and Miyaneh-Bostanabad-Tabriz lines are the new railway lines that will be constructed.

On December 20, First Vice President Mohammad-Reza Rahimi said that by transferring some of the country’s forex accounts to safe countries, Iran has been able to receive 3 to 8 times more than the initial deposits in financing, of which $23 billion has been invested in Road and Transportation Ministry projects.

Rahimi made the remarks at the National Transit Conference.

He went on to say that many countries are interested in investing in Iran and pointed out that the countries that imposed restrictions on Iran lost business when Iran transferred its funds to other countries that were eager to do business with Iran and were financially safe for Iran.

In addition, $20 billion of the newly received finances has been invested for the development of projects in South Pars.

MF/HG
END
MNA

News ID 43704

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