Tehran Times - The head of Islamic Republic of Iran Railways (known as RAI) announced that 20 trillion rials (about $476.1 million) has been allocated to renovation of 1000 passenger and freight wagons and also locomotives through benefiting from domestic capabilities in the current Iranian calendar year (began on March 21), IRIB reported on Saturday.

Saeed Rasouli said this amount has been allocated by the Planning and Budget Organization.

In this year, which is named as the year of "Pickup in Production" by the Supreme Leader Ayatollah Seyed Ali Khamenei, all efforts of RAI are for renovating the railway fleet of the country by relying on domestic producers, the official further stressed.

According to Saeed Mohammadzadeh, the previous head of RAI, development of Iranian railways requires more than 32,000 wagons and locomotives in the next four years when the railway infrastructures are developed in the country.

�The national network fleet needs over 30,000 cargo wagons, 2,000 passenger wagons and 650 locomotives in the next four years�, the official has previously announced.