Iran earmarks $40.3m for new railway construction

August 1, 2007 - 0:0

TEHRAN, July 31 (MNA) – The cabinet agreed on Tuesday to the allocation of 37.640 billion rials ($40.3 million) for the construction of new railways in collaboration with the private sector.

The Transportation Ministry will pay the sum to the Construction and Development of Transportation Infrastructure Company (CDTIC).
According to the cabinet’s approval, 20 billion rials ($21.4 million) will be earmarked for southern Khorramshahr-Iraq boarder railway.