S Korea to partake in Tehran Highway to north

TEHRAN, May. 02 (MNA) – Road minister said Iran welcomes Koreans' participation in constructing Tehran-Northern Iran Highway. Speaking at a meeting on Monday morning with South Korean Minister of Land, Infrastructure and Transport Kang Ho-in, Iranian Roads and Urban Development Minister Abbas Akhoundi noted “We can compile memorandum of understanding on the highway within next two days.” The official highlighted that fruitful cooperation is subject to having a very transparent financial protocol to clarify methods of financial exchanges and its economic justification for Iran. “One major issue in implementing projects is conditions of financing because Iran has received different proposals from China and European countries for carrying out the projects,” he continued. Akhoundi went on to add that “for instance, we have received a very good proposal from China to electrify Tehran-Mashad Railway.” The Iranian road minister also asserted “Iran and South Korea will sign three MoUs on railway and air transport cooperation on Monday.” Akhoundi further enumerated the MoUs to be sealed in a ceremony to be attended by the two countries' presidents including implementing Isfahan-Ahvaz railway project, financing purchase of 450 wagons from the Korean company Hyundai Rotem and cooperation between Incheon International Airport and International Imam Khomeini Airport (IKIA). Akhoundi also expressed the country’s eagerness to cooperate in the fields of smart transport systems saying “Korean firms can invest in passenger, logistics and other sectors of IKIA.” He also welcomed South Korean cooperation in urban development sector.