TEHRAN, Iran, Aug. 30
Trend:
Iran's Ministry of Road and Urban Development seeks to barter oil with the construction of railway, road, and maritime projects, said the Minister of Road and Urban Development, Trend reports citing Fars News Agency.
Rostam Ghassemi emphasized the barter method would increase investment in the private sector, indicating the necessity to renovate the old railway and aviation fleet.
"We know that 90 percent of Iran's global transportation is via sea which is a cheap route and transport more volume of cargo. Additionally, we should not lose this opportunity, the country's ports require development, and railway network should be connected to ports and cargo sources," he emphasized.
"Iran would take effective actions for the development of Makran coasts and surely we need to rely on the private sector to implement these actions. The new administration would invite all Iranian investors that live in other countries to invest in the railway sector and we have provided many incetives to appeal to investors," Ghassemi said.
"There are 10,000 to 12,000 kilometers railway in the country and part of it is old which reduces the speed of trains and need renovation while 356,000 trucks also need renovation. Furthermore, we would take necessary action to renovate airlines," he noted.