Baku, Azerbaijan, March 8
By Fatih Karimov - Trend:
A European company has announced readiness to establish a rail manufacturing plant in Iran's North Khorasan province, northeast of the country, IRNA quoted Morteza Khosravi, an official at the ministry of foreign affairs, as saying on March 8.
If the agreement is finalized, the European company will invest €400 million in the project, he said, adding that the company has a potential to invest up to €1 billion.
However, he did not reveal the name of the European company.
"If the manufacturing plant comes on stream, it can export products to the Central Asian countries, especially to Turkmenistan," he noted.
On February 4, the Mehr News Agency quoted Iranian deputy economy minister Behrouz Alishiri as saying that there is no limitations for making investment by European and U.S. companies in Iran.
"After establishing sustainable relations with foreign investors, Iran has no limitations in his respect," he added.
Different European and U.S. companies have recently held negotiations with us, he said, adding that the U.S. and European private sector will have no limitations to invest in Iran.
Iranian President Hassan Rouhani said on Feb. 5 that during the last few months some $4.5 billion foreign investments were absorbed by the country.
During the current Iranian calendar year, about $8 billion in foreign investments have been attracted and the country plans to absorb more $8.5 billion in foreign investment before the end of this year.
(Iran's calendar year starts on March 20.)
Iran and six major powers including the U.S., UK, Germany, France, Russia, and China reached a nuclear accord in November 24, 2013, which came into force on Jan.20.
The western countries would ease or suspend some restrictive sanctions over Iran's industrial sector when Iran halted some sensitive nuclear activities, according to the accord.
Several foreign economic delegations have recently traveled to Iran to evaluate cooperation opportunities.