$1.6b allocated for modernizing transportation fleet
Iranian deputy transport minister said National Development Fund (NDF) of Iran has allocated $1.6 billion for renovating the country’s transportation fleet, IRIB reported on Tuesday.
Upon President Rouhani's directive, National Development Fund will soon provide nearly $1.6 billion to renovate the transportation fleet,” Shahram Adamnejad said in a gathering of the country’s professional transport organizations.
Speaking in the meeting, Adamnejad noted that transportation accounts for 8.5 percent of the country’s total Gross Domestic Production (GDP) and the sector has created direct jobs for over two million people across the country.
Back in 2018, IRIB reported that Iran is going to rejuvenate its transport body by scrapping more than 199,000 vehicles by the end of the Iranian calendar year of 1399 (March 20, 2021).
According to the report, the scrappage scheme would be financed by NDF and also foreign investment.
The decision was announced during a gathering of the country’s carmakers, and directors from the banking sector, NDF and Planning and Budget Organization (PBO) which was held in July 2018 to discuss the national plan for the modernization of public transportation fleet.
In the past two decades, Iran’s transportation infrastructure has gone through major transformation and every year the country is advancing more in this area.
source: Tehran Times
Top News
Six last month
MinRes halts Bald Hill mine amid lithium price rout
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Swapping aluminum for copper will maintain China’s resources, group says
Gold loses some luster after Trump’s decisive win
Hedge funds slash bullish wagers on gold over Trump election win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Families gather at South African mine shaft where hundreds are feared stuck underground
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
