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CreateTime:2008-05-12 Editor:liaoyan
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A CHINESE bank has "expressed readiness" to invest in the construction of a beltway around the Iranian capital, Tehran, Sarmayeh reported.
Iran has been in talks with a potential Malaysian partner on the project for the past three years, said the newspaper, citing Mohammad-Reza Montazeri, executive director of Iran's highways' construction and development.
Negotiations with the Malaysians had slowed down due to a "lack of cooperation" from the two banks, Montazeri said. He didn't name them, Bloomberg News said.
Construction of the 125-kilometer beltway, which will cost US$400 million, will take five years, he said.
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