TEHRAN, Iran, April. 12
Trend:
Iran Oil Minister Bijan Zanganeh attended the opening ceremony of the Oil Industry Research and Technology Fund today on Monday.
“The Ministry oil was able to complete the main part of the implementation of the Goreh to Jask pipeline in cooperation with Mobarakeh Steel Co. and Khuzestan Province`s Oxin Steel Co. The ordered Steel sheets are supplied and pipes are delivered by those two companies,” Trend reports citing IRNA.
He emphasized that the Oil Industry Research and Technology Fund opened with $24 million of capital and this year it should increase its capital several times. The Ministry of Oil will spend $190 million of resources to support startups.
"The proposal of guaranteed purchase of innovative products with the aim of financially supporting startups, and innovation centers in universities, was raised more than a year ago,” said Zanganeh.
According to IRNA, the Non-Governmental Oil Industry Research and Technology Fund signed two contracts in the field of guaranteed purchase and two contracts in the field of venture capital with the Ministry of Oil.