Iran Oil Ministry devise subsidy scheme to lure railway investors (Exclusive)
Baku, Azerbaijan, Nov.1
By Farhad Daneshvar – Trend:
Oil Ministry and the Railways of the Islamic Republic of Iran (RAI) have agreed on a scheme to provide those who invest in the country’s railways system with fuel subsidy, an obvious move to develop railway transport.
Nourollah Beiranvand, the deputy for planning and investment at RAI has told Trend that the oil ministry grants 1.3 cents (per ton-kilometer) in subsidy for freight and 0.7 cents (per passenger-kilometer) for carrying passengers, to investors.
The senior official added that under an existing agreement between the RAI and the Oil Ministry, those entrepreneurs who invest in the Iranian railways system are eligible to receive the subsidies.
Saying that those who invest in the Iranian railways will be exempt from paying taxes for ten years, he added that the scheme on granting subsidies will continue until 2023.
Iran is seeking to increase the share of railways in transportation of freight and passengers in the coming years.