Source: Press TVTehran has successfully attracted investment by its local private sector to finance infrastructure plans especially in the transportation sector.
Tehran, the largest city in the Middle East, faces big traffic problems and
the development of the existing inadequate metro network is a priority for the
Iran has been obliged to draw local investment into the projects because of a shortage of foreign investment, the Middle East Economic Digest (MEED) said.
MEED is a 50-year-old London based business intelligence tool, providing analysis and commentary on Middle Eastern markets, companies and projects.
According to MEED, considering foreign bank's reluctance to invest in Tehran's metro project, Iran's ability to attract the local private sector to back the expansion of Tehran's subway is admirable.
A pilot plan that the government started this year to lessen the financial
weight of the project, has boosted hopes to expand the subway system of Tehran.
Under the scheme, the Government buys land and sells it to companies at discounted prices. The contractors can develop the land as they wish but they need to include a metro station into the work and agree to share profits from their project on a short-term basis.
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