Chinese companies may finance 3rd section of Tehran-Shomal Freeway

Business Materials 24 January 2019 13:42 (UTC +04:00)

Baku, Azerbaijan, Jan. 24

By Elnur Baghishov - Trend:

Chinese and Iranian companies have expressed willingness to finance construction of the third section of the Tehran-Shomal Freeway, said Mohammad Saeedikia, head of Iran’s Mostazafan Foundation, Trend reports via ILNA.

An investor will be appointed by the end of this Iranian year (started March 21, 2018), he said.

He noted that 34 trillion rials (about $809 million) were spent on the construction of the first section of the freeway, adding that work regarding the second section started.

"In order to lay the second and the third sections, about 80-100 trillion rials (about $1.9-2.38 billion) are needed," he said. "A part of this amount will be provided by an investor."

He noted that a tender will be held until the end of this Iranian year with the cooperation of the Ministry of Roads and Urban Development of Iran in order to find an investor.

The length of the freeway is 121 kilometers.