TEHRAN – Iran needs $5.54 billion investment for upgrading and renewal of its airports, IRNA reported quoting an airport official as saying.

According to Rahmatollah Mahabadi, the chairman of Iran Airports Company (IAC), 200 trillion rials (about $5.29 billion) investment is needed for the airports’ overhaul and another $250 million is also needed for navigation, technical and engineering equipment. 

The Iranian official said that to supply technical and engineering equipment for improving domestic navigation, foreign resources should be attracted as soon as possible, since domestic finance cannot meet the existing demand.

Regarding the support of Iranian government and the parliament during the recent past years, he hoped that Iranian air industry will get renovated via purchasing the required equipment in near future. 

There are 54 airports across Iran and the number of domestic flights stands at 900 while the figure for passing flights stands at 1,100.

EF/MA