TEHRAN, July 4 (Mehr News Agency) - Iran's Parand and Hashtgerd new towns development companies and a Malaysian construction company signed an agreement on Monday evening for building 20,000 residential units in the newly established cities of Parand and Hashtgerd, both in Tehran Province, the Iranian Students News Agency (ISNA) reported on Tuesday.
The agreement was signed in the presence of Iran's Minister of Housing and Urban Development Mohammad Saeedi-Kia and representative of Malaysia's Prime Minister Zeini.
Based on the agreement, the Malaysian company will start the construction operations of 20,000 residential units in new towns of Parand and Hashtgerd from late August. Moreover, the agreement has obligated the Malaysian side to make the entire investment in addition to carrying out engineering, procurement and construction operations.
Saeedi-Kia, voicing Iran's pleasure on expansion of cooperation with the Southeast Asian state, said that the Iranian and Malaysian officials are determined to develop bilateral cooperation in all fields. He called signing the said agreement as a turning point in the good relations between the two countries.
Zeini, representative of the Malaysian side also expressed satisfaction with the peaceful ties with Iran, saying, "We do not want to limit our relations with Iran to implementation of construction projects only, rather we are keen on the long-term relations and sustainable presence in Iran," he said.
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