Economy, Domestic Economy
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$264m Earmarked for Roads

$264m  Earmarked  for Roads$264m  Earmarked  for Roads

An official with the Islamic Republic of Iran Road Maintenance and Transportation Organization, affiliated to the Ministry of Roads and Urban Development, said 9.5 trillion rials ($264 million) have been allocated for the reconstruction and maintenance of roads.

“The fund is sufficient to improve up to 15% of roads across the country,” Abdolhashem Hassannia added.

The official added that all the arterial roads nationwide will be equipped with speed cameras by March 2018, IRNA reported.

Earlier, the Ministry of Roads and Urban Development announced that charges levied by toll roads have increased by 14.6% on average this fiscal year (March 2016-17).

Toll is a form of tax usually spent on the maintenance or construction of new roads.

According to Road Maintenance and Transportation Organization, every year at least $2 billion are needed for the maintenance of roads across the country.

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