The expansion of the Iranian capital city’s subway network is a challenging task for urban managers, who are struggling to secure financial resources to accomplish the same.
According to Ali Emam, Tehran Metro Company’s CEO, 12 stations were planned to become operational by the end of the current fiscal year (March 2021), but lack of financial resources has impeded the plans, Fars News Agency reported.
He announced that 10 trillion rials ($38.46 million) worth of participatory bonds issued by the government for subway expansion were supposed to be cashed and sent to the company by a local agent bank.
“Unfortunately, the bonds expired on Nov. 20 and the bank refused to cash them until the due date,” he said.
November 22, 2020 01:52
0
Financial Trouble Scuttles Expansion of Tehran Subway
A dozen subway stations were planned to become operational by the end of the current fiscal year (March 2021), but lack of financial resources has impeded the expansion projects
Add new comment