23 December 2005
TEHRAN: Minister of Roads and Transportation Mohammad Rahmati has announced that the long-awaited Tehran-Shomal Highway will be completed in four years, stressing that issues relating to the financial requirements of project are yet to be resolved.
According to Fars news agency, the minister further said that President Mahmoud Ahmadinejad and the heads of Management and Planning Organization (MPO) and the Bonyad Mostazafan met recently to discuss the project, which will connect the capital to the Caspian Sea resorts in the north of the country.
He said the government and the Bonyad each have a 50-percent stake in the project, worth 1.2 trillion rials.
"Both the government and the Bonyad have promised to contribute their share of the financial requirements soon," he said, adding that the project is currently underway.
He said the project will be completed in 48 months, once all phases are implemented on schedule.
"The first phase has shown a 60-percent progress," he said, adding that the parliamentarians have also developed a positive outlook on the project.
The minister said earlier that administrative procedures relating to the controversial Tehran-Shomal Highway have been expedited following the State Expediency Council's recent decision to approve the use of foreign finance.
The minister said the initiative removed the barriers for investment by China in the project.
The project was launched in the late 1990s.
China has reportedly agreed to provide $220 million for the giant project.
The so-called Tehran-Shomal Highway, which will traverse the thick northern Iranian forests, has not made sufficient progress in recent years chiefly due to shortage of funds. Environmentalist groups have voiced serious concerns about the project citing that the highway will harm wildlife in northern forests.
TEHRAN: Minister of Roads and Transportation Mohammad Rahmati has announced that the long-awaited Tehran-Shomal Highway will be completed in four years, stressing that issues relating to the financial requirements of project are yet to be resolved.
According to Fars news agency, the minister further said that President Mahmoud Ahmadinejad and the heads of Management and Planning Organization (MPO) and the Bonyad Mostazafan met recently to discuss the project, which will connect the capital to the Caspian Sea resorts in the north of the country.
He said the government and the Bonyad each have a 50-percent stake in the project, worth 1.2 trillion rials.
"Both the government and the Bonyad have promised to contribute their share of the financial requirements soon," he said, adding that the project is currently underway.
He said the project will be completed in 48 months, once all phases are implemented on schedule.
"The first phase has shown a 60-percent progress," he said, adding that the parliamentarians have also developed a positive outlook on the project.
The minister said earlier that administrative procedures relating to the controversial Tehran-Shomal Highway have been expedited following the State Expediency Council's recent decision to approve the use of foreign finance.
The minister said the initiative removed the barriers for investment by China in the project.
The project was launched in the late 1990s.
China has reportedly agreed to provide $220 million for the giant project.
The so-called Tehran-Shomal Highway, which will traverse the thick northern Iranian forests, has not made sufficient progress in recent years chiefly due to shortage of funds. Environmentalist groups have voiced serious concerns about the project citing that the highway will harm wildlife in northern forests.
© Iran Daily 2005
