Iran dismisses reports on co-op with S Korean Daewoo

Business Materials 7 May 2016 12:25

Baku, Azerbaijan, May 7

By Khalid Kazimov - Trend:

Iran's Deputy Transport Minister Asghar Fakhrieh Kashan has dismissed the reports suggesting that the Islamic Republic and South Korea's Daewoo have recently reached an agreement for cooperation on the construction of the Tehran-Shomal Freeway.

"No agreement was reached on the construction of any section of the Tehran-Shomal Freeway with Koreans," ILNA news agency quoted him as saying May 7.

"Koreans have offered to cooperate on the Tehran-Shomal Freeway but no agreement has been made so far," he added.

"Any company, including Khatam-al Anbiya, which are capable of meeting the Transport Ministry's requirements, will be eligible to join the project," the deputy minister said.

Khatam-al Anbiya is a giant Iranian construction firm affiliated with the Islamic Revolution Guards Corps (IRGC).

The official said that a significant criterion for companies to join the project is that the contractor should be capable of financing 60 percent of the project.

## 2528465##In an early May report, the official IRNA news agency reported that Iran and South Korea have signed a document for cooperation in constructing a part of the Tehran-Shomal Freeway.

The report on the agreement was published during South Korean President Park Geun-hye's recent visit to Tehran.

The deputy minister said that Iran and South Korea have agreed to cooperate on the construction of Esfahan-Ahvaz railroad.