Oct 21, 2018, 4:17 PM
News Code: 83073582
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Development of railroads requires €20 billion investment

Tehran, October 21, IRNA- The director general of railways organization of the Islamic Republic of Iran said “in order to provide the infrastructure needed for railways of the country by 1400, we need 20 billion euros of investment'.

Saeed Mohammadzadeh said on Sunday at a meeting of investment and financing opportunities in the country's railroad transportation sector, “According to the plans, 54% of this investment is provided by the private sector and 46% by the government and the private sector.

Deputy Minister of Roads and Urban Development added, “Achieving a 20% share of freight and 30% passenger transportation by 1400 is the most important priority of the Islamic Republic of Iran Railways in developing the rail transport network.'

Deputy Roads Minister for Planning and Railroad Economics also said at the meeting, according to the plan, by 1400, the capacity of the cargo transportation on the rail network of the country should be 186,400,000 tons, and the amount of transits of goods by rail should be annually up to 8,600,000.

Nourollah Beiranwand added that at the end of the Sixth Development Plan, the passenger capacity of the rail network of the country will also surpass 130 million passengers annually.

Beiranwand announced the reduction of risk, increased efficiency and economic attractiveness and financing participation as one of the most important incentives for domestic and foreign investment in the rail transport industry.

“To achieve these goals,” Beiranwand added, “Various ways of financing in the railways have been on the agenda, so that we can use the domestic and foreign investment to provide the financing needed to invest in this sector.”

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