IRANIAN COOPERATIVE TO BUILD 20,000 RESIDENCES IN MADAGASCAR.

TEHRAN, June 3 Asia Pulse - An Iranian cooperative company has won a contract to build 20,000 residential buildings in Madagascar at an estimated cost of about US$6 million, said Ebrahim Tehrani, deputy secretary general of Iran's Chamber of Cooperatives.

Speaking to IRNA on the threshold of the Third Export Potentials Fair of the Cooperatives Sector which will be held at Tehran's Permanent Int'l Fairground from June 10-15, he said that a technical and services cooperative called 'Tabata-Shahr' concluded the agreement on the construction project in March.

He added that construction operations will start once the credit for the project is available and the project will be completed by the end of current year.

According to Tehrani, another agreement to build 20,000 residential buildings may be signed if a consensus is reached.

Holding fairs, as the most significant mechanism to identify the export potentials, are taken quite seriously in various countries with the aim of marketing and entering markets in target areas, he pointed out.

He said, "The outcome and expertise gained at the first and second cooperatives fair have opened a new horizon to visitors and the fair is welcomed by an increasing number of people."

He added that participation by cooperative societies in the fair will make them believe in their own efficiency, produce competitive high-quality exportable goods and get acquainted with the buyers taste.