The development of high-speed, decent transportation has gained traction with the allocation of funds for projects in the holy cities of Mashhad and Qom.
The government recently allocated 19 trillion rials ($67.85 million) in sukuk (Islamic bonds) to accelerate urban transportation projects in Mashhad, the shrine city of Khorasan Razavi Province.
Mashhad City Council has authorized urban managers to issue and spend 3 trillion rials ($10.71 million) of the total amount for the purchase of new vehicles for Mashhad’s public bus fleet, ISNA reported.
Sukuk is a Sharia-compliant bond that represents a portion of ownership in a portfolio of existing or future assets. The bond can help meet the immediate needs of a business or project for liquidity with no access to end-users to finance their operations.
According to official data, Mashhad has approximately three million residents and about 3,000 public buses, many of which have outlived their usefulness and must be phased out.
Experts believe that Mashhad, like many other thriving metropolises around the world, is facing an escalating problem of air pollution that can be mitigated through regular renovation of gas-guzzling vehicles.
The council also set aside 4 trillion rials ($14.28 million) of bonds for other development projects, such as the restoration of bus and taxi stations, urban furniture and sidewalks.
The unfinished subway project in the shrine city received the largest share of the sukuk, amounting to 12 trillion rials ($42.85 million).
The city council decided to split the budget between the under-construction lines, allocating 2 trillion rials ($7.14 million) to Line 2, 7 trillion rials ($25 million) to Line 3 and 3 trillion rials ($10.71 million) to Line 4.
Kianoush Kiamars, CEO of Mashhad Metro Company, told local media that tunneling of Line 3 has progressed along 17.5 kilometers of the total 28.5 kilometers.
Line 3 will eventually have 24 stations, stretching from the northwest in Amirieh Boulevard to the southwest in Abouzar district.
"It has been decided to begin the construction of Line 4 prior to the completion of Line 3 to address the growing traffic and transportation demand in the central part of the city," Kiamars explained.
Line 4 stretches over 17.5 kilometers from the Khajeh Rabi neighborhood in the northeast to the city center. It then heads southeast to the Shahid Bahonar neighborhood. When fully operational, the line will have 18 stations.
Other Lines
Of the four lines mapped for Mashhad's subway network, lines 1 and 2 are fully operational.
Line 1, with a length of 24 km and 24 stations, was launched in February 2011 and is used by about 120,000 commuters daily.
The line links Hasheminejad International Airport in the southeast to Vakilabad in the northwest.
Line 2 of Mashhad’s subway system stretches 14.5 kilometers across east to west of the city with 13 stations, only one of which is under construction.
Qom Metro
The encashing of 4.5 trillion rials ($16 million) worth of participatory bonds allocated for the development of a subway project in Qom is nearing completion, according to the head of Qom Urban Railway Organization.
According to Mansour Darvishi, the money will be delivered to the municipality in two weeks, allowing the first phase of Line 1, which includes two stations, to start operation sooner.
"The part's construction has advanced by 93% and everything will be ready for launch as soon as some equipment, such as elevators, escalators, lighting and signage, are installed," he added.
Qom's metro system includes two lines (Lines 1 and 2) that span a total of 21 kilometers.
Line 1 will run 14.8 km from the northwest to the southeast of the city, with 14 stations along the way.
The construction of the line has been divided into two phases. Khatam-al Anbiya Construction Headquarters, an Iranian engineering arm of the Islamic Revolution Guards Corps, began phase one in 2010 with an initial budget of 8.6 trillion rials ($30.7 million).
Line 2 will have eight stations along a horizontal line that will cross the city center, according to provincial data. There is no additional information about the line.
Provincial officials say accelerating the subway’s construction is essential for the shrine city, as the increasing urban development, aging public transportation fleet and substandard vehicles plying the streets are worsening its air pollution.
“A subway can help tackle these issues, which are common to all metropolises,” Qom Mayor Morteza Saqqaian-Nejad said.
