Iran, Russia define joint projects worth $30B

Business Materials 12 December 2016 16:34 (UTC +04:00)

Tehran, Iran, December 12

By Mehdi Sepahvand - Trend:

Iran and Russia have defined joint projects with $30 billion, said Iran’s Deputy Minister of ICT Mehdi Mohtashami on the sidelines of a joint economic committee meeting of the two countries.

“We intend for some of the projects to go in the form of joint venture and some others be conducted locally,” he said, IRNA news agency reported December 11.

He said the two sides reviewed the building of two nuclear power plants in Bushehr, city in southwestern Iran, as well as the construction of subway in Qom, city in central Iran.

Noting that Iran-Russia trade turnover stands at $1.5 billion, he said Russia is planning investments in Iran for 2017, $2.5 billion of which will go into infrastructure, thermal power plants, and electrifying the Garmsar-Incheh Borun railway.

In the first seven months of the current Iranian year (since March 20), Iran exported goods worth $86.5 million to Russia.