Baku, Azerbaijan, May 26
By Fatih Karimov - Trend:
Iran's Ghadir Investment Company has reached preliminary agreements with several European companies on various oil, gas, petrochemical, power plant, cement, ICT and infrastructure projects worth some three billion euros, said the company's managing director Gholamreza Soleimani.
Agreements on certain projects worth about one billion euros will be finalized soon, Soleimani, said, adding that technical negotiations are underway regarding the other projects, Iran's IRIB news agency reported May 26.
Alongside firms from Italy, Greece, Germany, Spain, Czech and France, the Iranian investment company has signed MoUs with Asian firms from China, South Korea and Singapore, Soleimani said.
He further said that Ghadir works with foreign firms in three forms including Engineering, Procurement, Construction and Financing Contracts (EPCF), Joint ventures and Project Finance.
Transfer of technology into Iran is also one of the issues which is envisaged in the signed deals, he added.
Ghadir currently is implementing various projects worth $8.5 billion across the country, Soleimani said.
The Iranian government spokesman Mohammad Baqer Nobakht said in mid-May that the Islamic Republic has issued permissions for $3.418 billion foreign direct investment following the implementation of the nuclear deal last January.
Iran will receive $73 billion in credit lines from international financial institutes as well, Nobakht added.
Earlier Iranian Deputy Minister of Economy Mohammad Khazaei said Tehran considers luring in $25 billion worth of foreign investment to spend on the country's development projects.