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Iran in talks with foreign firms over transport sector investments

5 September 2015 19:35


Iran said on Saturday that it has started talks with international enterprises over investments in the country’s roads, railways and air transportation projects.

Iran’s Minister of Roads and Urban Development Abbas Akhundi said that companies from East Asia and Europe have voiced interest to participate in projects over the development of Iran’s transportation sector.

Akhundi said the companies are from France, Germany, Italy, South Korea, China and others.

He emphasized that Iran plans to hold international tenders to choose the contracts for its projects.

The official said that the companies are waiting for the removal of sanctions against Iran before going ahead with participating in tenders for the Iranian transportation development projects.

He added that the related organizations are nevertheless collecting evaluating potential contractors for projects.

Akhundi elsewhere emphasized that Iran is also in talks with some of the leading global plane manufacturing companies for purchases of new planes.

He said the talks with the companies in this sector have also focused on the funding models as well as plane maintenance services.

Iranian officials had earlier said the country needs at least $20 billion to develop its transportation sector. They say at least $8 billion from the total required funds need to be invested for the development of the ageing infrastructure of the country’s transportation sector.

The country has also previously announced plans to place orders with aviation giants Boeing and Airbus to purchase up to 90 planes per year until 2020.

It says it needs above 400 civilian aircraft worth at least $20 billion in the next decade to renovate its aging fleet.

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