Economy, Business And Markets
0

Turkish Firm to Build Tabriz Subway

Turkish Firm to Build Tabriz SubwayTurkish Firm to Build Tabriz Subway

Iran has agreed to give a subway project in its northeastern city of Tabriz to a Turkish contractor, the Pakistan’s Customs Today reported.

The Ankara-based Bergiz insaat, a renowned Turkish construction company, said the $850 million subway for which a pre-settlement agreement has been signed starts at Tabriz Airport continued its way to the southern ring road of the city passing through the city center.

The project will be complete by 2017, said the Turkish company which has also been given the Tabriz-Bazargan highway project, one of the most significant highway projects in Iran. The 255-kilometer-long highway project will cost nearly $1 billion.

Turkey and Iran established an associated company together for the Tabriz-Bazargan highway project, while the Turkish side owns 65% of the total shares of the new company while Iran’s ministry of roads and urban development owns the rest.

Earlier in 2012, the Tabriz City Council had awarded the $1.2-billion contract to develop the Tabriz subway system to Khatam-ol-Anbia Construction Camp, a consortium run by Iran’s Revolutionary Guards Corps. Brigadier General Ebadollah Abdollahi, the commander of the construction camp, announced the news earlier this month that his camp is the contractor of Tabriz subway project, according to IRNA.

Iran and Turkey have a history of cooperation in construction projects, as the Turkish companies were responsible for a number of Iran’s major housing plan known as Maskan-e Mehr (Mehr housing scheme).

Financialtribune.com