Attracting $50b investment requires agreements with central banks

Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has proposed a list of plans eligible for receiving finance to the Management and Planning Organization, Deputy Minister of Industry, Mine and Trade Mahdi Karbasian told the Islamic Republic News Agency (IRNA) on Friday.

'We are planning to hold talks with foreign companies and hold conferences in Russia, Switzerland and Britain,' Karbasian said.

Investment packages which are being prepared by international and domestic advisors will be presented during the upcoming gatherings, he added.

Based on an agreement between Iran, Austria, South Korea and Denmark on opening credit lines for completion of projects, IMIDRO has received necessary permits from Central Bank of Iran (CBI).

A conference is slated to be held with the participation of Russian companies in May, he said adding that the event aims at financing mineral industry projects.

He went on to say that Austria is expected finance a project at Gol-Gahar steel company.

9376**1396

Follow us on Twitter @IrnaEnglish