Managing director of Tehran Metro Co and managing director of the Chinese NORINCO (China North Industries Corp.) inked the contract as the employer and contractor respectively.
The Chinese NORINCO was announced as winner of the international tender for the project after financial and technical specifications of the submitted bids were examined.
The Chinese corporation had earlier supplied the fixed and movable equipment of Tehran-Karaj-Mehrshahr metro line as a contractor.
According to the inked contract, the contractor is committed to cover all the expenses of the construction of the specified route, the stations as well as fixed and movable equipment through long-term financial funds.
"The project should be implemented and handed over four and a half years after opening the related letter of credit and implementing the contract in two phases," added the contract.
Meanwhile, in accordance with the signed document and memorandum of understanding, a least 51 percent of the value of project should be provided domestically on behalf of Iranian constructors and contractors consortium.
Besides the contract envisages the supply of 160 metro wagons.
The 21-km fourth Tehran metro line with 22 stations will originate at Ekbatan township in western Tehran and will terminate in Kolahdouz Square in the east of the city.
On the sidelines of signing a contract on the fourth metro line, Tehran mayor called for inking another contract for the third metro line latest by the end of summer.
Speaking to reporters, he said that the issue of the capital city's traffic is on the top of Tehran Municipality's agenda.
He added that fortunately, after the victory of the Islamic Revolution, relations between Iran and China have been enjoying a growing trend.
Turning to close cooperation of the Chinese NORINCO as an obvious evidence of expanded bilateral ties, he hoped for further broadening of cooperation.
Ahmadinejad termed bolstering ties in cultural, economic and political fields to the benefit of both sides.
He called on China's ambassador, who also attended the press conference, to expedite the project and implement the metro line sooner than pledged.
"Given the technological progress, four and a half years is a long time for implementing development and infrastructure projects," he added.
... Payvand News - 5/15/04 ... --