Tehran, April 16, IRNA-Germany is likely to win a multimillion-euro contract to construct a major bridge between the Persian Gulf island of Qeshm and Bandar Abbas port on the mainland, the English-language `Iran Daily' wrote on Saturday.

According to the daily, a group of German experts has reportedly completed feasibility studies and is now involved in talks with Qeshm Free trade Zone officials on signing a contract.

The 1,800-meter bridge would include a highway and a railroad.

Agreements have already been reached between the Qeshm and Hamburg authorities on the project.

Experts say the giant Persian Gulf Bridge project could become operational within three years provided that foreign banks approve the required funds of over 500 million euros.

Qeshm Free Trade Zone (QFTZ) has absorbed direct foreign investments (FDI) worth only 580 million dollars since 2000.

Foreign investments in the Persian Gulf island during 1993-2000 have reached 450 million dollars.

Economic activities of Iranian FTZs remain insignificant due to sluggish economy and constant lack of understanding among senior officials on the important role free trade zones can play in improving the country's international transactions.