Iran to issue $570 million bonds to finance transport infrastructure plans

Azerbaijan, Baku, Feb.20 / Trend F.Mehdi/ Iran will start selling 7 trillion rials (about $570 million) bonds on Friday for expanding its roads and transportation infrastructures, IRNA quoted deputy roads and urban development minister Ahmad Sadeqi as saying. The earnings will be spent to expand railways, freeways, highways, and main roads across the country, he added. Last year, 54 railway, freeway, and highway projects were implemented at a cost of 30 trillion rials (about $2.4 billion) using revenues earned through selling bonds, he noted. He pointed out to financing 50 percent of projects through selling bonds, and added that 23 trillion rials (about $1.8 billon) is needed annually to implement road transportation expansion projects in the country. Do you have any feedback? Contact our journalist at agency@trend.az