Iran Gov’t to Issue Bonds Worth $222m for Roads Ministry

EghtesadOnline: The Economic Council agreed on Monday that the government issue 10 trillion rials (about $222 million) worth of bonds for purchasing new airplanes and maintaining the country’s roads.

News ID: ۷۸۱۹۷۷

13 March 2018

The issuance of debt securities was initially proposed by Minister of Roads and Urban Development Abbas Akhoundi and agreed to by First Vice President Es’haq Jahangiri, Mehr News Agency reported.

The Monday meeting was attended by Minister of Science, Research and Technology Mansour Gholami; Minister of Industries, Mining and Trade Mohammad Shariatmadari; Minister of Economic Affairs and Finance Masoud Karbasian; Mohammad Baqer Nobakht, the head of Management and Planning Organization; Sorena Sattari, vice president for science and technology; Governor of Central Bank of Iran Valiollah Seif; and Chairman of Iran Chamber of Commerce, Industries, Mines & Agriculture Gholamhossein Shafei.

Following the 2015 landmark nuclear agreement with world powers and the lifting of international sanctions, Iran has signed several deals with Airbus, Boeing and ATR to renew its aging fleet of passenger planes, Financial Tribune reported.

Eleven new airplanes have been delivered ever since—one Airbus A321, two Airbus A330s, and 8 ATR 72-600 turboprops.

More are expected in the future as part of the deals.