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Iran's Hormozgan Province receives massive funding for new infrastructure, urbanization projects

Business Materials 1 February 2024 13:40 (UTC +04:00)
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, February 1. Iran’s Hormozgan Province, located in the south of the country, inaugurated new freeways and highways on February 1, 2024, with a total cost of 16.6 trillion rials (about $395 million), Trend reports.

The Iranian Ministry of Roads and Urban Development organized an event to mark the occasion, which was attended by Iranian President Ebrahim Raisi, Road and Urban Development Minister Mehrdad Bazrpash and other officials.

The report said that 52 km of freeways and highways were opened for public use in Iran’s Hormozgan Province.

Moreover, the province also launched the construction of 93 kilometers of the highway along the Persian Gulf, which will require 21 trillion rials (about $500 million) of investment.

Along with all these, the province also began the development of two new cities, named ‘Persian Gulf’ and ‘Makran No’, with a budget of 25.7 trillion rials (about $612 million).

As part of a 10-day tour to commemorate the anniversary of the Islamic Revolution in Iran from February 1-11, Iranian President Ebrahim Raisi traveled to Hormozgan Province, located in the south of Iran.

Reportedly, the facilities that were inaugurated or initiated in Hormozgan province during the Iranian president’s visit received 1.05 quadrillion rials (about $25 billion) of investment.

Currently, there are 2,793 km of controlled-access highways, 45,170 km of highways, and freeways in operation in Iran.

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