The country needs to attract $3 billion worth of investment and team up with the private sector to develop transportation infrastructures around the country, the director general of investment of the Ministry of Roads and Urban Development has announced.

According to IRNA, Meqdad Rahimian announced the needed funding at an investment committee meeting attended by representatives from Spain, Italy and Austria. Rahimian said, " the implementation of modern road projects in Iran can benefit from the experience of EU countries."

The current length of freeways in the country is around 2,000 km and the Hassan Rouhani administration has announced its wish to increase it to over 10,000 km.

He noted that the administration has extended the roads by 700 km since 2013, with another 400 on its way. Rahimian added that with the help of both local and international private consortiums, the goals of the Fifth Five-Year Economic Development Plan (2011-16) can be implemented in a shorter period.

By Financial Tribune