Search Site

TAQA net income $1.93bn in 2024

The company's revenues increased 6.7 percent year-on-year.

ADNOC L&S 2024 net profit $756m

The company's revenue increased by 29 percent to $3.54 billion.

ADNOC Distribution 2024 net profit down 7%

Minus UAE corporate tax, it would have grown by 2.4% to $725m

Maaden raises $1.25bn in sukuk offering

The Sukuk were offered in a five-year and a 10-year tranche.

DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

Iran needs more than $1 billion to improve roads

  • Iran’s Deputy Transport and Urban Development Minister Kheirollah Khademi said the country needs $1.07 billion to improve 10 major freeways in the next two years
  • The country also announced the construction of new freeway corridors as another part of infrastructure development programs for the coming years

Iran needs around 45 trillion rials (about $1.07 billion) to improve its roads, local reports have said.

The reports quoted the country’s Deputy Transport and Urban Development Minister Kheirollah Khademi as saying that this amount was needed to improve 10 major freeways across the country in the next two years.

Khademi reportedly made the remarks in a meeting attended by deputies of the Transport Ministry, and managers of organizations active in the road construction field to discuss various aspects of a program for improving the country’s road network.

He was quoted by the reports as saying: “Qom-Kashan, Qazvin-Rasht, Zanjan-Tabriz, Qazvin-Zanjan, and Kashan-Natanz-Isfahan freeways are the first priorities and about 45 trillion rials of credit is needed to improve these freeways.”

Transport and Urban Development Minister Rostam Qassemi recently announced the planning for improving the condition of the major freeways and highways and expanding the country’s freeways network to 10,000 kilometers.

In the meeting, Khademi, who is also the managing director of Iran’s Construction and Development of Transportation Infrastructures Company, emphasized the need for accelerating the improvement of the country’s freeways.

He said: “According to existing standards, 3-6 percent of the daily revenues of each freeway should be spent on its improvement and maintenance, but now 15 percent of freeway revenues are spent on maintenance, which should be used to reduce maintenance costs by using new methods in paving freeways.”

He also announced the construction of new freeway corridors as another part of his ministry’s programs for the coming years.