Financing for Iran’s Persian Gulf Bridge Approved

TEHRAN (Tasnim) – The managing director of the Qeshm Free Zone Organization announced on Saturday that a 450-million euro financing for the construction of the Persian Gulf Bridge, which links the southern island of Qeshm to mainland Iran, has been approved.

Financing for Iran’s Persian Gulf Bridge Approved

The 450-million financing for the project has been approved by Management and Planning Organization of Iran (MPO), Ali Akbar Shabanifar told reporters in a press conference on Saturday.

He explained that the Persian Gulf Bridge would have a length of 2.4 km, 2.2km of which would be constructed over water and the reaming 200 meters will be built on the land.

The Iranian official added that the Persian Gulf Bridge has six 360-meter spans and will be completed in three years.

He also said that the project is financed by two foreign countries including china.

In recent years, China has financed many Iranian projects, especially in the oil and petrochemical industries. Earlier this month, it was announced that efforts are underway to secure a credit line from China to fund renovation of Iran’s oldest oil refinery.

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