Tasnim– Under a multi-billion-euro project to expand Tehran’s Imam Khomeini International Airport (IKA), new terminals would be built that, along with the existing one, could handle 100 million passengers a year, an official said.

Speaking at a press conference on ideas for the design of a new air terminal dubbed “Iran-Shahr”, Shahram Adamnejad, CEO of Imam Khomeini Airport City, said the expansion project, requiring €2.5 billion in investment, would be financed by both domestic and foreign sources.

After three phases of development, the Iran-Shahr terminal will reach the capacity of 100 million passengers each year, he added.

According to the official, preparations are underway to put the mega-project out to tender.

In May 2017, Iran’s Road Ministry said it has called off a memorandum with France on development of the airport after the European side failed to meet its commitments.

Iran has signed several contracts with foreign companies to renew and improve its civil aviation industry since coming into forces of the Joint Comprehensive Plan of Action (JCPOA), a nuclear agreement between Iran and the Group 5+1 (Russia, China, the US, Britain, France and Germany).

Tehran is gradually receiving new passenger planes purchased from Airbus, ATR, and Boeing following the JCPOA.

During a January 2016 visit to Paris by Iranian President Hassan Rouhani, Tehran signed a major contract with Airbus worth about $27 billion to buy 118 planes.

Later in June 2016, Iran sealed another deal worth around $25 billion with the US aerospace heavyweight, Boeing, for the purchase of 100 passenger planes.

In December 2016, the deal with Boeing was finalized, allowing Iran to buy 80 planes within 10 years.