Baku, Azerbaijan, Feb.25
By Fatih Karimov - Trend: A Turkish firm will invest $720 million to build a highway in northwestern Iran.
Esmaeil Jabbarzadeh, governor general of Iran's East Azarbaijan Province, said that the Tabriz-Bazargan highway will be built by a joint venture through Turkish Bergiz Company, Iran's IRNA news agency reported on Feb.25.
Some 30 trillion rials (about $1.2 billion) will be invested in the project, he said, adding that 65 percent of the sum, equal to $720 million, will be invested by the Turkish company and the rest will be invested by the Iranian Transport and Urban Development Ministry.
The building of the highway will play a key role in facilitating passenger and cargo transportation in the region, Jabbarzadeh said.
Construction of the highway will start in the next Iranian fiscal year, which begins on March 21, and will be completed by 2021, he said. The highway will act as a bridge between Iran and Turkey, he added.
Berfu Tutumlu, a member of Bergiz executive board, said the 255-kilometer-long Tabriz-Bazargan Highway Project is also one of the most significant highway projects in Iran for which Turkey and Iran have established an associated company together.
Edited by CN