Iran to become self-sufficient in rail production
Azerbaijan, Baku, May.1/ Trend F.Karimov/
Iran will become self-sufficient in rail production once a projected 300,000 ton rail manufacturing company comes on stream; IRNA quoted Isfahan Steel Company managing director Ardeshir Sa'd-Mohammadi as saying.
"The country needs some 150,000 tons of UIC60 rails per annum," he said. "So, the factory can fully meet the domestic need and the rest can be exported."
Over €150 million will be invested to launch the factory, he said, adding that its output can be increased up to 500,000 tons.
In March, IRIB quoted deputy roads and urban development minister Ahmad Sadeqi as saying that Iran will double the length of its national railway to 20,000 kilometres in the near future.
Currently, some 10,000 kilometres of railways are in operation across the country. He also said that over 3500 kilometres of highways are being built.
In February, Iran sold seven trillion rials (about $570 million) worth of bonds to expand its roads and transportation infrastructures.
The earnings will be spent to expand railways, freeways, highways and main roads across the country, IRNA quoted Sadeqi as saying.
Last year, 54 railway, freeway and highway projects were implemented at a cost of 30 trillion rials (about $2.4 billion) using revenues earned through selling bonds.
Sadeqi pointed out to financing 50 per cent of projects through selling bonds and added that 23 trillion rials (about $1.8 billion) is needed annually to implement road transportation expansion projects in the country.