MNA – A Memorandum of Understanding (MoU) was signed in China’s capital Beijing on Thursday between Iran’s Mostazafan and Janbazan (M&J) Foundation and Chinese “CRAC” Company in order to finance and manage implementation of Lot 3 of Tehran-Shomal freeway.


The signing ceremony was held in the presence of Head of Iran’s Mostazafan and Janbazan (M&J) Foundation Mohammad Saeedikia and chief executive of Chinese CRAC Company within the framework of observing maximum use of domestic financial capability.

Under the deal, the two sides promised to conduct feasibility studies on the project within five months, the report added.

On the sidelines of signing ceremony, Head of Iran’s Mostazafan and Janbazan (M&J) Foundation Mohammad Saeedikia said, “we are ready to make use of fruitful experiences of China for launching this giant project and also invest with Chinese side as joint venture in the field of exports.”

Talks are underway with two Chinese companies in the field of financing construction of Imam Khomeini International Airport (IKIA), he said, adding, “the Foundation also entered into direct talk with Chinese firms in the field of export of dairies from Iran to China.”

Saeedikia said, “with the coordination made in this regard, the Foundation will take advantage of experiences of Chinese firms in relevant field.”