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Korean builders have signed a series of memorandums of understanding to build hospitals in Iran amid widening bilateral cooperation in the health care sector, the health ministry here said Wednesday.
Samsung C&T, Hyundai Engineering & Construction and four other companies signed seven MOUs with Iranian medical schools to build seven medical centers with a combined 6,000 beds in Tehran during a business fair held in the Iranian capital on Saturday and Sunday, according to the Ministry of Health and Welfare.
The ministry said the deals are expected to be worth $2 billion in total.
Although an MOU does not guarantee a final contract, the companies will be given priority in further negotiations, it added.
The MOUs came after a series of business deals signed earlier in the month during South Korean President Park Geun-hye's visit to the Islamic Republic.
In a summit with Park, Iranian President Hassan Rouhani also expressed his hope to more than quadruple the countries' bilateral trade from $6.1 billion in 2015 to over $30 billion in five years. (Yonhap)
