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Iran to invest USD 5 billion in rail infrastructure by 2022

Iran to invest USD 5 billion in rail infrastructure by 2022
The Railways of the Islamic Republic of Iran (RAI) said Iran will invest USD 5 billion in rail infrastructure by 2022.

TEHRAN UIC RAME: The Deputy Minister of Roads and Urban Development in Iran, Dr. Saeed Mohammadzadeh, has announced that the state is ready to invest USD 5bn (EUR 4.33bn) to develop its railway infrastructure by 2022, which is part of a bigger plan that includes USD 17bn in investment aimed at the development of the country's railway infrastructure over the long term. The value of infrastructure projects carried out in Iran since 2014 amount to over USD 2.1bn. It has been revealed that Iran's fuel consumption savings in 2017 in the rail sector amounted to around USD 250mn. Iran received USD 11bn worth of goods from the EU in 2017, whereas its own freight exports to the EU were worth USD 11bn in 2017.

Correspondent: Fahimeh Rahbari

Jan 5, 2019 10:49
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