Cash Crunch Stalls Subway Projects

Cash Crunch Stalls Subway Projects
Cash Crunch Stalls Subway Projects

Tehran’s subway network requires 20 trillion rials ($88.49 million) to launch 10 stations in three lines, the CEO of Tehran Metro Company said.
Ali Emam added that the construction of these stations in Lines 3, 6 and 7 are almost complete and the additional budget is required for the purchase and installation of elevators, escalators and other equipment, IRIB News reported.
Elaborating further, Emam said the stations are Aqdasieh and Mahallati in Line 3, Sattari, Ashrafi Esfahani, Yadegar-e Emam, Marzdaran and Shahrak-e Azmayesh in Line 6 and Baqerkhan, Qiam and Tarbiat Modarres in Line 7.
"Each station requires 300 billion rials to 1.5 trillion rials [$1.32-6.63 million]. The money would also cover workers' salary for two months." 
Last year (ended March 2020), Tehran Municipality was authorized to issue 15 trillion rials ($66.37 million) of participatory bonds for streamlining the public transportation system. The subway’s share of the bonds was 10 trillion rials ($44.24 million), which was supposed to be paid by October 2020. 
“Only 2 trillion rials ($8.84 million) were encashed and delivered early this week,” Emam said.


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