Deputy roads and rural development minister for international and financial affairs said on Monday that South Korea has allocated a five-billion-dollar finance line for implementing infrastructure projects in Iran.
Asghar Fakhriyeh-Kashan said that the Koreans have among Iran’s proposed projects for joint foreign investment chosen making investments in construction of hospitals and tourism centers.
The deputy minister who was elaborating on the South Korean Trade, Industries and Energy Minister Joo Hwang-wan’s Sunday meeting with the Iranian roads and rural development minister said that the Korean delegation’s visit is mainly aimed at preparing the ground for South Korean president’s visit.
‘The South Korean delegation is also here to participate in the Iranian and South Korean Economic Activists Joint Meeting,’ added the deputy minister.
He said that during the South Korean president’s visit to Iran two memoranda of understanding (MOUs) and an agreement are scheduled to be signed.
‘One of the MOUs will be signed with Hyundai for development of Iran’s railways network, including the Chabhar-Zahedan railway in the framework of a Building-Lending-Transferring (BLT) contract, or a Building-Operating-Transferring (BOT) contract and the other MOU is on cooperation in shipping field,’ he said.
Fakhriyeh-Kashan said that the South Korean side prefers long-term, infrastructure cooperation, which is approved by Iran and the issue will be pursued during the South Korean president’s visit of Iran.