Iranian firm signs $1bn MoU with Korean cable car maker

Iranian firm signs $1bn MoU with Korean cable car maker
The Tochal Telecabin cable car is located at a resort behind Tehran that during winter attracts 50,000 skiers and snowboarders.
By bne IntelliNews June 12, 2017

Iran’s Jam Industrial Group and South Korea’s New Millennium Group have signed a memorandum of understanding on producing cable cars in Iran in a deal that could be worth an estimated $1bn, Islamic Republic News Agency reported on June 10.

With an eye on boosting its skiing and mountain tourism industries, and a plan to implement more cost effective mining operations, Iran is in dire need of hundreds of new cable car and cable-mounted operations.

“The [cable car development] programme will be financed through direct investment and with a banking guarantee from an Iranian bank,” said Jalil Makinehchi, managing director of Jam Industrial Group, a producer of a range of industrial products,

Phase one of the programme will reportedly begin in 2019, with several proposed cable car locations already pinpointed by the Iranian firm.

Hitherto, several Iranian cable car projects have been installed and maintained by European firms, mostly French.

One of the most popular gondola systems in Iran is located behind Tehran. Named Tochal Telecabin, it was installed by a wealthy Iranian industrialist prior to the Islamic Revolution in 1979.

The site has had several upgrades in recent years. Its Station 7 is at the peak of the Alborz mountain range at 3,500 metres above sea level. In winter it is the closest ski resort to the capital, with over 50,000 skiers and snowboarders making use of the attraction.

Iran has several other locations with cable cars, including tourist destinations by the Caspian Sea.

Related Articles

Iran's Persian rug exports enjoy 7.3% lift over four months

Iran’s Persian rug exports moved up 7.3% y/y across the first four months of the Persian calendar year (started March 21), the Islamic Republic News Agency reported on August 16. ... more

Iranian military's chief of staff visits Turkey for first time since 1979

Chief of Staff of the Iranian Armed Forces General Mohammad Baqeri on August 16 met with Turkish President Recep Tayyip Erdogan and Defence Minister Nurettin Canikli in Ankara. On August 15, ... more

Iranian-Turkish-Russian oil and gas drilling partnership commits to $7bn investment

Turkey's Unit International said on August 16 that $7bn would be invested by itself, Iran's Ghadir Investment and Russia's Zarubezhneft in drilling for oil and natural gas in Iran's southern regions. ... more

Dismiss