Baku, Azerbaijan, May 12
By Elnur Baghishov – Trend:
Iran needs 13 billion rials ($309,000 according to the official exchange rate, while $86,600 according to the exchange rate in the black market) to repair passenger rail cars, chairman of the board of the Iranian Rail Transport Companies Association Mohammad Rajabi said.
Some 270 passenger rail cars must be repaired in Iran, Rajabi added, Trend reports referring to the Young Journalists Club.
He added that 3 trillion rials ($71.4 million according to the official exchange rate and $20 million according to the exchange rate in the black market) are required to repair all rail cars. This is a huge sum for railway companies.
The price of the spare parts has increased by 200-400 percent and devaluation had a negative impact on the sector compared to the previous year, Rajabi said.
Strong devaluation occured in Iran last summer. Thus, the price of 1 dollar has increased from 35,000 rials to 220,000 rials.
After the Central Bank of Iran took a number of steps, the price of one dollar decreased up to about 80,000 rials, while the current price of 1 dollar in Iran’s black market reached around 155,000 rials.