Iran will develop industrial projects in Cuba

Tehran: 19:52 , 2006/04/11
Iran will develop industrial projects in Cuba

TEHRAN, Apr. 11 (MNA) -– Export Development Bank of Iran (EDBI) will
finance the development of two industrial projects in Cuba, Iran’s ILNA
news agency said here on Tuesday.

In its bid to export technical and engineering services abroad, EDBI
will finance water treatment projects and the building of water pumping
stations in the Latin American country, the managing director of the
bank said adding, the bank has undertaken to finance 85 percent of the
4.5-billion euro contracts.

The funds are scheduled to be repaid in ten consecutive installments and
in a five-year period, he explained.

The Export Development Bank of Iran is also planning to, in the near
future, finance the export of train carriages to the Caribbean state.

RA/MA

http://www.mehrnews.ir/en/NewsDetail.aspx?NewsID=310770