TEHRAN- Iran’s transport and urban development minister announced that his ministry’s planning to offer 12 freeway and railway projects to be financed through the country’s stock market, IRNA reported.

Mohammad Eslami made the announcement in a meeting with the members of the country’s road building companies association on Sunday.

As announced last month by the deputy transport minister for resource planning and management, Transport and Urban Development Ministry plans to offer 14 infrastructure projects to be financed through the country’s stock market.

“Studies have been concluded for 14 infrastructure projects for entering the capital market, and investment companies are assessing various methods and models of offering this projects in the stock market,” Amir-Mahmoud Ghaffari told ILNA on May 20.

According to Ghaffari, seven railway projects and seven freeway projects will be offered in the capital market, and the transport ministry is considering which of these projects should be the priority.

“This is the Transport and Urban Development Ministry’s first experience in this area and we are designing a model for its implementation”, the official explained.

He further noted that the ministry is holding several meetings with the Securities and Exchange Organization (SEO) to plan the model and approach for these projects to enter the market, adding that investment companies are developing a proposal for the stock exchange which will be finalized within the next month.

Referring to the schedule for the offerings, the deputy minister said, "We are trying to offer the projects in the capital market in the first half of the current [Iranian calendar] year (started on March 20).”

“At the first stage, two projects will be listed,” he added.

MA/MA