Economy, Business And Markets

$10.6b for Renovating Decrepit Road Transport Fleet

$10.6b for Renovating Decrepit Road Transport Fleet$10.6b for Renovating Decrepit Road Transport Fleet

The government will invest $10.66 billion on the renovation and replacement of decrepit intra- and inter-city transportation fleet. The relevant directive has been communicated to the Ministry of Industries, Mining and Trade by Mohammad Baqer Nobakht, vice president and the head of Plan and Budget Organization, Mehr News Agency reported on Wednesday. The investment will be covered through Oil Ministry’s savings generated by fuel conservation as a result of scrapping the old vehicles. The new vehicles for replacing the old ones are to be equipped with the latest technology and approved by the Oil Ministry.


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