$1b Deal With S. Korea to Build Cable Cars

EghtesadOnline: Iran’s Jam Industrial Group and South Korea’s New Millennium signed a joint venture memorandum of understanding in Tehran on Saturday worth $1 billion to build cable cars in Iran.

News ID: ۷۷۶۸۹۲

11 June 2017

“The project will be financed through foreign direct investment and Iran’s banking guarantee,” said the managing director of the Iranian company, Jalil Makinehchi, adding that Phase 1 of the project will get off the ground within one and a half years, IRNA reported.