News ID: 124578
Publish Date : 12 February 2024 - 21:50

China to Finance Persian Gulf Bridge Construction

TEHRAN – The secretary of Iran’s Supreme Council of Free and Special Economic Zones Hojjatollah Abdolmaleki said on Monday that the Persian Gulf Bridge will be constructed on Qeshm Island using China’s financing scheme.
Abdolmaleki put the estimated cost needed for the completion of the construction operation of the bridge at $700 million.
A part of the bridge will also be constructed using the financial resources through the bartering of oil, he added.
Speaking on the sidelines of a conference on Iran’s Sea-based Economy, he pointed to the latest situation of the construction of the Persian Gulf Bridge and said all the feasibility studies have been conducted.
A part of the financial resources for constructing the bridge will be provided by the Qeshm Free Zone Organization while another part will be provided through the bartering of oil, the secretary added.
According to the scheduled program, the construction operation of the bridge will become operational within the next three years.
Elsewhere in his remarks, Abdolmaleki pointed to the negotiation with the Chinese contractors and added that a number of contractors have voiced their readiness to finance the project.