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Rouhani Approves $500m From NDFI to Launch Rail Leasing Company

Jan 14, 2018, 10:39 AM
News ID: 22619

EghtesadOnline: President Hassan Rouhani has agreed to allocate $500 million from the National Development Fund of Iran, the country’s sovereign wealth fund, for the establishment of a rail leasing company, the deputy head of the Islamic Republic of Iran Railways said.

“It is expected that by the end of the current Iranian year (March 20, 2018), preparations for establishing this company will be completed,” Nourollah Beiranvand was also quoted as saying by ISNA.

The official explained that the company will function as a financier for local investors in rail projects, according to Financial Tribune.