Iran, Russia sign deal on expanding housing, construction ties

امضای تفاهم‌نامه

Tehran (ISNA) – Iran’s ministry of roads and urban development and Russia’s ministry of construction, housing and utilities have sealed a cooperation agreement.

The agreement for the cooperation program was signed when Iran’s minister of roads and urban development Abbas Akhoundi visited Moscow and met with Russian minister of construction, housing and utilities Mikhail Men.

After holding a joint economic commission and signing the agreement, both sides discussed other fields of bilateral efforts, namely exchange of know-how and expertise in construction regulations and quake-resistant buildings, the official news portal of Iran's roads ministry reported.

Iranian and Russian officials then reportedly formed a joint working group to follow up on the agreements while also reviewing and negotiating the establishment of a housing finance fund.

Welcoming the Iranian delegation, the Russian minister noted that the bilateral meeting will serve as the foundation for the development of Russian-Iranian relations in the fields of construction, housing and utilities.

"The main thing in the development of our relations is to define the extent of cooperation while maintaining contact at the state level and attracting organizations and specialists from related industries to implement such cooperation," he said.

During the visit, Akhoundi also met with the president of state-owned Russian Railways Oleg Belozyorov, Financial Tribune reported.

The main topic of discussion was the €1.2 billion ($1.4 billion) agreement for the electrification of Garmsar-Inche Borun railroad in northern Iran, the preliminary deal for which was signed a year ago.

Akhoundi also conferred with the Russian minister for North Caucasus affairs Lev Vladimirovich Kuznetsov about ways of expanding bilateral ties.

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