RAI Earmarks $500 Million for Renovating, Repairing Railway Fleet: CEO
TEHRAN (Tasnim) – The chief executive of the Railways of the Islamic Republic of Iran (RAI) said a $500 million fund has been allocated for purchasing the equipment, repairing and modernizing the railway fleet of the country using oil bartering.
Miad Salehi made the remarks in a meeting with the producers and repairmen of the railway fleet of the country, adding that another $500 million will also be earmarked for buying locomotives.
The CEO of RAI further pointed out that 50 freight locomotives of the Railway Company will be delegated to the private sector in the next month, the website of Iran's Ministry of Roads and Urban Development (MRUD) reported.
With the coordination made in this regard, the contract for delegating 50 freight locomotives and another contract of investment for repairing 15 other locomotives (ROT) will be unveiled in a ceremony as well, the deputy roads minister added.