Iran unveils amount of funds allocated for dev't of public transport in Tehran

Finance Materials 11 January 2021 17:22 (UTC +04:00)

BAKU, Azerbaijan, Jan. 11

By Elnur Baghishov – Trend:

About $1 billion has been allocated from Iran's reserves in China for development of public transport in the Iranian capital, Tehran, Iran's First Vice President Eshaq Jahangiri told journalists, Trend reports citing official website of the First VP.

According to Jahangiri, a number of problems, including US sanctions against Iran, economic problems, declining oil revenues, and so on, have had a negative impact on the implementation of a number of plans in Iran.

The vice president added that nevertheless, the Iranian government has allocated a total of $2 billion from its reserves in China for the development of urban public transport.

“These funds will be used to import buses for Tehran city,” he said.

Jahangiri stressed that furthermore, there are certain plans to repair and purchase 950 metro wagons.