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Iran hopes China will fund Tehran's metro project
- Iran: Wednesday, October 17 - 2012 at 03:43
The Tehran Urban & Suburban Railway Co has said it hopes China will provide funds of up to $2bn to complete the Iranian capital's metro rail, which faces delays due to lack of financing as a result of sanctions, Reuters has reported. "We are seeing funds from foreign companies. We are in negotiations with China (government, banks and agencies), we are hoping to get financing," said the company's deputy managing director, planning and logistics, Mohammad Montazeri. "If the loans come we can finish on time," he said. Phase two of the metro is on track for completion next year, but two new lines under the third phase may be delayed due to lack of money, said Montazeri.
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