Iran funds road projects in northwestern regions

Baku, Azerbaijan, May 21 By Fatih Karimov - Trend: Iran’s president ordered financing several road projects, including a highway, projected to be stretched from the city of Tabriz to the Turkish border. Iranian President Hassan Rouhani ordered funding $175 million to several projects including Tabriz-Ahar highway, Tabriz-Bazargan highway to complete them by late 2016 as well as building the infrastructure of Tabriz-Miyaneh railroad, Fars News Agency reported May 21. Bazargan is Iran's major border crossing point with Turkey. According to Iran Custom Administration's statistics, above $74 million worth of goods were exported through Bazargan port in last fiscal year, ended March 20. The figure indicates a 72 percent increase year-to-year. The amount of imports through this cross bordering point was above $55 million, indicating a 43 percent decrease year-to-year. Tabriz-Bazargan highway with 250 km length needs a $1.4 billion to $1.75 billion investment, while the government shares 35 percent in this project. The remained shares belong to the private sector. Edited by CN Follow us on Twitter @TRENDNewsAgency