Japanese company ready to invest $4 bln in Iran’s transport projects

Business Materials 9 May 2014 11:31 (UTC +04:00)

Baku, Azerbaijan, May 9

By Fatih Karimov - Trend:

Japan's Mitsui Company has announced that it is ready to invest $4 billion in Iran's railway, airport, port and shipping projects.

Senior officials from the Japanese company met with officials from Iran's Transport and Urban Development Ministry, discussing the investment opportunities, Iran's Mehr news agency reported on May 9.

In March, Iranian Foreign Minister Mohammad Javad Zarif said Japan has been an important trading partner to Iran, but unfortunately because of sanctions, there has been a sharp drop in the trade relations.

"It is important for us to take advantage of the opportunity provided by the result of development in the international scene," he said, referring to a deal between Iran and six countries struck in November to curb Tehran's uranium enrichment in exchange for the easing of tough international sanctions.

The six countries are Britain, China, France, Germany, Russia and the United States.

There has been growing hope in Iran that Japanese companies will step up their investment in the Middle Eastern country as implementation of the deal began in January.

Zarif expressed hope that the Japanese oil, gas and auto industries will invest in Iran, while seeking cooperation on the civilian use of nuclear energy.