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News number: 8805290457

13:57 | 2009-08-20

Economy

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Iran's Railroad Industry Attracts $24 bln

TEHRAN (FNA)- Iranian Minister of Road and Transportation said the country's railroad industry has attracted nearly $24 billion of foreign investment.



"Foreign investors have signed agreements to carry out railroad projects worth 17 billion euros ($24 billion)," IRIB quoted Hamid Behbahani as saying on Wednesday.

"The completion of the projects will increase the overall length of the Iranian railroads by 10,000 km," Behbahani noted.

He noted that such a huge investment could jumpstart Iran's railroad industry.