ID :
96613
Thu, 12/24/2009 - 15:42
Auther :
Shortlink :
http://m.oananews.org//node/96613
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Chinese banks fund Iran's freeway
BEIJING, Dec. 24 (MNA) – The funding needed to build Iran’s Tehran-Shomal (North) Freeway was secured by banks in Shanghai on Wednesday.
The contract is the first of its kind in road building in Iran in the past 100 years.
The Iranian deputy road minister said that after economic sanctions were slammed against Iran, French banks refrained from financing this lucrative project.
Masoud Rahnama stated that according to the contract signed on Wednesday two Chinese banks will now finance the project.
The Iranian official noted that sanctions against Iran are ineffective and the country can always find more suitable ways to implement its massive development projects.
Rahanma added that they reached an agreement with the Chinese contractor on implementing the second part of the freeway and decided to build part one and two and Alborz tunnel simultaneously.
The contract is the first of its kind in road building in Iran in the past 100 years.
The Iranian deputy road minister said that after economic sanctions were slammed against Iran, French banks refrained from financing this lucrative project.
Masoud Rahnama stated that according to the contract signed on Wednesday two Chinese banks will now finance the project.
The Iranian official noted that sanctions against Iran are ineffective and the country can always find more suitable ways to implement its massive development projects.
Rahanma added that they reached an agreement with the Chinese contractor on implementing the second part of the freeway and decided to build part one and two and Alborz tunnel simultaneously.
