TEHRAN, March 02 (Shana) -- Iran's ministries of petroleum and roads have initiated a project to renovate 65,000 trucks and trailers in the country's fleet.

Officials from the two ministries signed an MoU in a ceremony held on Tuesday in the presence of Roads and Urban Development Minister Abbas Akhoundi and Iranian Minister of Petroleum Bijan Zangeneh, based on which they will cooperate in renovation of trucks and trailers in a bid to reduce fuel consumption and gas emissions in the sector.

Estimated to cost $2.76bn, the initiative will include trucks and trailers aged over 35 for replacement with new ones.

The project is predicted to save the country 1.38bn liters of fuel annually and reduce emission of pollutants by 3.73mt/y.

By SHANA