TEHRAN, Oct. 12 (MNA) – The German bank, Deutsche, will finance Tehran-North Highway Project if it manages to obtain the license from the Iranian Ministry of Economy.

The Germans expressed their tendency for the project in their meeting with the officials of Tehran-North Highway Company (TNHC) and the Housing and Development Organization. They also said that they will be encouraged to sign the deal of finance if they receive an official guarantee from the ministry and the Management and Planning Organization.

 

Meanwhile, HCO officials announced they will take part in the project only if their suggestions comply with those of Deutsche.

 

In addition, TNHC officials stated that they would prefer the project to be financed through project finance since they can get most of government support at the time. “The German bank will be eligible to share in 20% of the investments”, TNHC incurred.

 

HCO is the contractor of the interstate highway, which connects the capital to the northern Iran. The build-operate-transfer (BOT) project will be half funded by the state, while the MJF (Mostazafan va Janbazan Foundation) is expected to provide the other 50%.

 

ER/MA

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MNA

 

 

 

  

News Code 8420

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