EghtesadOnline: Private sector investors have put up more than 18 trillion rials ($440 million) for the establishment of new towns in Iran during the past four years, said a board member of the New Towns Development Company, affiliated to the Ministry of Roads and Urban Development.

EghtesadOnline: Seeking to build environment friendly cities with strong buildings and smart public systems, a board member of the New Towns Development Company, affiliated to the Ministry of Roads and Urban Development, announced that agreements with companies from Germany, Italy and South Korea have been signed to benefit from their assistance during the second phase of building new cities in Iran.