Italy to connect Turkey to Persian Gulf through Iran

Business Materials 21 July 2016 16:20 (UTC +04:00)

Baku, Azerbaijan, July 21

By Khalid Kazimov – Trend:

An Italian company will connect Iran’s northwestern border crossing with Turkey to the Persian Gulf.

ANAS, Italy’s state-owned national roads and highway construction company, and Iranian Transportation Ministry signed a document on cooperation for construction of a 1,200-km highway connecting the Bandar-e Imam Khomeini, a key port on the shores of the Persian Gulf, to Bazargan City on the border with Turkey, Mehr news agency reported July 21.

Ali Nourzad, Iranian deputy transport minister, said a domestic constructor will launch a construction project for the first and second stretches of the highway after the deal is finalized.

He added that the construction of the first and second stretches will take about four years.

According to Iranian media reports, the deal is estimated to be worth 3.6 billion euros.

Reuters earlier reported that the first stretch of highway, covering 350 km, will be completed by 2022 at a cost of 600 million euros.