Iran to allocate over $24b to roads development

Business Materials 28 June 2017 14:06 (UTC +04:00)

Baku, Azerbaijan, June 28

By Khalid Kazimov – Trend:

The Iranian government is expected to allocate $24.2 billion (80 trillion rials) to 411 roads and urban development projects according to the current fiscal year’s (starting Mach 20) budget plan, an official said.

Amir Amini, an official with Iran’s Ministry of Roads and Urban Development, has said that the country’s sixth development plan has envisaged that privately-owned firms would contribute to the construction of 5,000 kilometer long of free-ways and 1,000 kilometer of railways by 2021, IRNA news agency reported.

According to the official the government over the past four years has invested about $14 billion (470 trillion rials) in developing the country’s railroads.