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Iran reveals amount of funds allocated to Tehran Municipality

Business Materials 15 March 2021 00:08 (UTC +04:00)
Iran reveals amount of funds allocated to Tehran Municipality

BAKU, Azerbaijan, Mar. 15

By Elnur Baghishov – Trend:

The Plan and Budget Organization of Iran has allocated 21 trillion rials (about $500 million) to the Tehran Municipality with the support of the Iranian government since the beginning of the current Iranian year (March 20, 2020), Iranian Vice President and Head of the Plan and Budget Organization of Iran Mohammad Bagher Nobakht said, Trend reports citing the IRIB.

He made the remark during the signing ceremony of a contract between the organization and the Tehran Municipality on the renewal of taxis and trains yesterday on March 13.

According to the vice president, so far, 18.5 trillion rials (about $440 million) of the funds has already been paid to the Tehran Municipality.

Nobakht added that legal issues related to the remaining funds will be resolved and the banks will pay the money.

"The railway transport is currently developing not only in Tehran, but in all parts of Iran. So, during the current government (which has been in power since 2013), the length of railway lines in Iran increased by 10,000 km and reached 14,000 km," he said.

The official stressed that moreover, it is planned to be paid 1.03 trillion rials (about $24.5 million) for the renovation of city buses in Tehran.

Nobakht also noted that in addition, 1.5 trillion rials (about $35.7 million) will be allocated for renovation of taxis in Tehran.

On Mar. 13, the Plan and Budget Organization of Iran and the Tehran Municipality signed a contract on the repair of 31 trains and the renewal of 10,000 taxis.

Furthermore, a contract was signed between Tehran Metro and Tehran Wagon Manufacturing Company. According to the contract, 105 metro wagons will be manufactured.

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