Moscow, Feb 7, IRNA � The Deputy Minister of Economic Affairs and Finnance Mohammad Khazaei who is in Moscow to negotiate the plan of utilization of government loans from Russia, has practical negotiation terms for drafting contracts and reaching an agreement on his agenda.

As reported by IRNA, the Iranian embassy in Moscow declared today (Sunday) that Khazaei, who is also the Chief Executive Officer of the Investment Bureau entered Moscow this morning. The three day negotiation period is intended to include contracts on the government export credit, the Garmsar's Railway project, and Bandar Abbas thermal power plant.

Moscow and Tehran entered into negotiations three months ago to loan 5-7 Billion dollars to Iran for the purpose of implementing economic and industrial projects in which Russia will take part.

The Supreme Leader's Senior Advisor Ali Akbar Velayati also commented that at the moment there are about $40 billion worth of partnership contracts between the two countries that need to be funded by Russia.

'In the recent meetings with the Russian President and officials, favorable promises have been delivered in view of fulfilling these undertakings,' concluded Velayati on the subject.

By IRNA