$1.5b in Rail Investments Since 2013

EghtesadOnline: The government has invested $1.5 billion in c ever since President Hassan Rouhani took office in August 2013, Saeed Mohammadzadeh, CEO of the Islamic Republic of Iran Railways, said.

News ID: ۷۷۷۶۵۱

15 July 2017

The rail sector, according to Mohammadzadeh, has become a top priority for both the government and the parliament, and Iran’s sixth five-year development plan (2017-22) is focused on expansion of railroads, IRNA reported. As per the plan, it has been decided that 1% of Iran’s annual oil revenues be allotted to develop railroads over the next five years.  Rail budget for the current Iranian year (March 2017-18) shows a 40% rise compared to that of last year (March 2016-17. Iran has 3,500 kilometers of railroads under construction. The country’s 20-Year Vision Plan (2005-25) stipulates that the number of passengers using rail transportation in the country will increase from the current 25 million to 65 million per year. Rail development projects include double-tracking, electrification and construction of high-speed railroads and track-laying on 1,500 km of new lines, Financial Tribune reported.