Tehran subway project needs investments worth over $1B

Business Materials 23 September 2019 14:53 (UTC +04:00)

Baku, Azerbaijan, Sept. 23

By Elnur Baghishov - Trend:

Investments worth about 50 trillion rials (about $1.19 billion) are needed to lay new subway lines around Tehran, head of Tehran province Planning and Budget Organization Nematollah Torki said, Trend reports via IRNA.

He noted that private sector companies can invest in this field and benefit from it.

He added that 100 percent participation of the private sector in the implementation of the government’s projects was allowed.

“Presently, 16 projects in the province, including those related to the subway lines around Tehran, have been prepared in accordance with Article 19 of Iran’s budget law for this Iranian year (started March 21, 2019), and may be submitted to the private sector,” he said.

He noted that the decision to lay the Tehran-Parand and Tehran-Pakdasht subway lines has been approved.