‘Railroad expansion in need of €20b investments’

October 21, 2018 - 20:9

TEHRAN- Some €20 billion is needed to supply the required infrastructure for development of national railway network by March 2021, the Managing Director of Islamic Republic of Iran Railways (known as RAI) Saeed Mohammadzadeh announced in a meeting on Sunday, IRNA reported.

“According to the set programs, 54 percent of the needed investments will be made by the private sector and the rest will be supplied by the government,” he added.

“RAI intends to have a 20 percent stake in Iran’s freight transport and a 30 percent one in passenger transport by 2021,” Mohammadzadeh underlined.

As the official announced earlier, transporting loads via railway can save up to $600 million in comparison with road transportation per year.

Iran will inaugurate 530 kilometers of railroads by the end of the present Iranian calendar year (March 20, 2019), Deputy Transport Minister Kheirollah Khademi announced in early September.

HJ/MA

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