Tehran, Nov 9, IRNA � Minister of Roads and Urban Development Abbas Akhoundi announced that Iran needs $50 billion to develop its aviation industry and purchase a total of 500 passenger planes.

�We currently have 250 airplanes; only 150 of them are operational and 100 others are out of order,� Akhoundi said while visiting the pavilion of the Islamic Republic News Agency (IRNA) at Press and News Agencies Exhibition.

He underlined that Iran�s air fleet lacks 400 mid-range planes and 100 short-range airplanes.

Akhoundi said that Iran has held talks with many first-grade suppliers to help people benefit from new planes after the removal of sanctions.

The minister said that the country�s airports need renovation because they transfer over 50 million passengers per year.

By IRNA