Int’l business firm to invest € 22 billion on Iran road projects

“The bank facilities, expected to be paid in the form of finance agreements, will go to the projects conceived by the Ministry of Roads and Urban Development,” said Mohammad Taqi Norouzi, VNS Representative on Monday during a meeting with provincial financial and economic officials in this north-western Iranian province.

“The company, based on the finance agreements and memorandums of understanding signed between the VNS and Iran, is expected to invest more than 22 billion euros on road projects across the country,” Norouzi said.

He also encouraged officials in West Azarbaijan Province to exploit the investment capacities in the best way.

Eight billion euros of the bank facilities are expected to go to road projects in West Azarbaijan, Norouzi said.

VNS is a combination of international business companies which provide financial facilities of more than 50 billion euros to help develop infrastructure and construction projects in other countries.

With no highways, West Azarbaijan Province, in north-western Iran, has more than 12,000 kilometers of roads.

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