Kish, Hormuzgan Prov, Jan 4, IRNA - Managing Director of Qeshm Free Trade Zone (FTZ) said here Friday following reaching initial agreement with Austrians, the Austrian side is now engaged in pilot study and investment level estimation phase to construct the Persian Gulf Bridge.
Mohammad Asghari who was speaking on the sidelines of Iran's Fifth Free and Special Economic Zones Exhibition in Kish Island, elaborated for IRNA the latest developments in construction process of the Persian Gulf Bridge by Austrian investors.
He said, "The investment required for the construction of this bridge, that would connect Iran's mainland to Qeshm Island, is 650 million euros, while completion of the project would also be in need of constructing the side jetties, connection roads and other facilities of the bridge complex simultaneously."
Asghari said that the time allocated to pilot study and cost evaluation period in the agreement reached with the Austrian side is six months, of which three months have passed so far."
Qeshm FTZ Managing Director added, "Finalizing the Persian Gulf Bridge, its jetties and connection roads depends on the ratification of the Economy Council and allocation of the required budget, the prerequisites for which have been provided through acquiring the agreement of the President's Budget and Planning Deputy and presenting it to the Economy Council."
He said that the investment of the foreign firm is a loan, whose return would be up to the government, as guaranteed by the Central Bank.
Asghari added, "The Persian Gulf Bridge Project was approved by the Economy Council in the year 2005 and that council's related recent studies are on the cost for construction of its side jetties and connection roads, because construction of the bridge alone is not economically justifiable."
He said, "There is Kaveh Jetty on the mainland near the spot where the bridge's northern side end of the Persian Gulf Bridge is to be constructed, with the potential to be expanded to become an international jetty with the capability of transiting goods that would make the project economically justifiable."
Pointing out that the predicted time for completion of this project is four years, he said, "The period for paying back the installments of the project's foreign loan is ten years, during which the investor would be considered the main owner of the bridge."
... Payvand News - 01/04/08 ... --