$1b Deal With  S. Korea to Build Cable Cars
Economy, Domestic Economy

$1b Deal With S. Korea to Build Cable Cars

Iran’s Jam Industrial Group and South Korea’s New Millennium signed a joint venture memorandum of understanding in Tehran on Saturday worth $1 billion to build cable cars in Iran. “The project will be financed through foreign direct investment and Iran’s banking guarantee,” said the managing director of the Iranian company, Jalil Makinehchi, adding that Phase 1 of the project will get off the ground within one and a half years, IRNA reported.

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