TEHRAN – Iran is going to rejuvenate its transport body by scrapping more than 199,000 vehicles by the end of the Iranian calendar year of 1399 (March 20, 2021), IRIB reported on Monday.

According to the report, the scrappage scheme will be financed by the National Development Fund (NDF) and also foreign investment.
The decision was announced during a gathering of the country’s carmakers, and directors from the banking sector, NDF and Planning and Budget Organization (PBO) which was held to discuss the national plan for the modernization of public transportation fleet.
Earlier in June, IRNA reported that a maximum of $10.66 billion funding has been allocated for renewing the country’s road transport fleet.
As reported, a total of 19,000 gas-powered inter-municipal buses, 9,000 suburban diesel buses, 126,000 trucks with various capacities and 48,500 minivans would be renewed using the allocated fund.

EF/MA