Iran to issue $2.9 billion in bonds

Iran Materials 4 September 2012 16:03 (UTC +04:00)

Azerbaijan, Baku, Sep.4/ Trend F.Milad/

Some 35 trillion rials (around $2.9 billion) will be sold in bonds by the end of the current Iranian year (March 20, 2013) to expand transport infrastructures nationwide, the IRNA news agency reported.

Construction and Development of Transportation Infrastructure's Managing Director Ahmad Sadeqi added that last year 5 trillion rials were issued in bonds.

He also said 10,000 kilometers of railroads will be built by the end of the year.

Some 25,000 kilometers of railway is in operation across the country, Sadeqi said. He added that by the next two years all the country's provinces will be connected together through the railroad network.

Iran Railways Managing Director Abdolali Saheb-Mohammadi has said that the national railroad network of Iran is now linked with Syrian and Turkish networks and is also connected with Turkmenistan via Sarakhs.