QESHM, July 27 (Mehr News Agency) -- The Persian Gulf Bridge project will most probably be financed and implemented by a consortium of Iranian and foreign companies, Qeshm Free Trade Zone Manager Mohammad Asghari said in Qeshm on Sunday.

"If the budget required for this project is secured through the Forex Reserve Fund, a domestic contractor will be vested with the project, otherwise we will entrust a foreign company to finance the project," he said.

The estimated budget required for this project is 650 million euros, Mehr reported.

If a foreign contractor is assigned to this project, the selected company will be obliged to work in the framework of an Iranian-foreign consortium and transferring construction knowledge and technologies will be placed as one of the main articles in the contract, he added.

Asghari noted that this bridge will be 2.46 kilometers long and 22 meters wide.

"In the construction budget of this bridge in addition to connecting Bandar Abbas to Qesm FTZ, connecting Shahid Rajaee Dock to Shahid Kaveh Dock via rail, and equipping this bridge have been considered," he explained.

This project, while providing a rapid and secure transit route for goods to and from the island, will lead to flourishing trade for this region and will allow Qeshm FTZ to compete with other ports and FTZs in the Persian Gulf.

7 countries compete over signaling Tehran-Mashhad railroad

China, Russia, France, Germany, Switzerland, Spain, and Italy are the seven countries competing over the project, announced Abbas Qorbanali.

The official added that the companies are obliged to offer their technical and financial suggestions within two months, saying the project will be conducted in finance form, namely 85 percent of the project has to be financed by the winner of the tender and the remaining 15 percent by the government.

The project's cost is estimated at about 6-8 trillion rials (some $650.7- $867.6 million).
 

Iran allocates $108.4m to Qazvin-Astara railway

Talking to MNA, Hassan Ziari said that half of the sum has been provided by the annual budget and the remaining half from fuel savings reserves.

The construction of the railroad is a joint venture among Iran, Russia, and Azerbaijan.