The VNS international business company will provide some 24.5 billion U.S. dollars in Iran's road construction projects, official IRNA news agency reported on Tuesday.
"The bank facilities, expected to be paid in the form of finance agreements, will go to the projects of Iran's Ministry of Roads and Urban Development," VNS representative, Mohammad Taqi Norouzi, said in a meeting with the Iranian financial and economic officials here on Monday.
According to the agreements and memoranda of understanding (MoUs) signed between the VNS and Iran, the company will invest some 22 billion euros, 24.5 billion U.S. dollars, in the Iranian road construction projects, Norouzi was quoted as saying.
Eight billion euros, 8.92 billion U.S. dollars, are expected to go to road construction projects in Iran's West Azarbaijan province, he added.
VNS is a holding international business company which provides finance to help develop infrastructure and construction projects in other countries.
XINHUA News
31 May
