26 July 2008 - 20:11

BANDAR ABBAS, July 26 (MNA) – The Kish Free Zone Organization(KFZO) and Germany's MRK company have signed on Friday a 500 million-euro MOU on investment in Kish Island's infrastructure projects.

Davoud Madadi, managing director of the KFZO, and Peter Hartman, MRK's executive director, signed the agreement to promote the private sector’s investment in a bid to expand the Island’s basic infrastructures.

 

Based on the agreement MRK will invest at least 500 million euros in various Kish infrastructure projects and an additional 50 million euros to develop the basic needs of Hindurabi Island in the Persian Gulf.

 

The German MRK has so far signed accords worth 2.5 billion euros on the establishment of Ahvaz subway and Bojnurd-Gorgan railway.

 

According to Press TV, over the next 15 days the German company will present its proposal on the construction of terminals at Kish airport, port facilities, water and electricity networks and other infrastructure projects.

 

NK/MRK

END

MNA

News Code 29112

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