Iran Issues Islamic Bonds Worth $25m for Locomotive Manufacturing

Some 1.05 trillion rials ($25 million) worth of Islamic bonds (Sukuk) have been issued to fund the manufacturing of 50 locomotives by Iran’s Wagon Pars Company, the roads and urban development minister said.
Abbas Akhoundi made the remarks on the sidelines of the ongoing Sixth International Exhibition of Rail Transportation and Related Industries & Equipment, also known as “RailExpo 2018”.
The minister explained that the locomotives will be manufactured for a private firm...