Baku, Azerbaijan, Apr.7
By Fatih Karimov - Trend:
Russian company STG has signed a contract with Iranian Mines and Mining Industries Development and Renovation company, known as IMIDRO, to produce alumina from Nepheline syenite, Iran's IRNA news agency quoted IMIDRO director Mehdi Karbasian as saying on April 7.
Nepheline syenite is used in glass making, ceramics and in pigments and fillers.
STG will handle the production and at a later stage transfer the project to the Iranian side, which refused to give the project to any other specialists.
"Based on the contract, the Russian company will implement the project in 3-4 years," Karbasian said.
He further said Iran-Russia economic relations will be significantly improved by the next one or two months.
A delegation led by Russian Economic Development Minister, Alexei Ulyukayev will visit Iran on April 20, Russia's Ambassador to Iran, Levan Jagaryan said in an interview with ISNA on March 17.
The ambassador said that last year trade turnover between Iran and Russia stood at $4 billion and this year these figures decreased by $1.5 billion.
Jagaryan said the main reason for a decrease in trade turnover between the two countries is the money transfer problems that emerged as a result of the sanctions.
He said the meeting of the Iran-Russia Joint Economic Commission is planned to be held in August, or the second part of September.