12:44, 02 June 2020 | GMT +6

Iran approves $417m foreign investment in industry, mine sectors

TEHRAN. KAZINFORM Provincial departments of Industries and Mines and Trade have approved foreign investment in 18 plans worth $417 million in the current Iranian year (started on March 20) with partnership of foreigners.

Foreign investment companies from Germany, Austria, UAE, China and Italy have entered into contracts with their Iranian partners to carry out different investment projects in Sistan Baluchestan, Tehran, Alborz, Isfahan, Kurdestan provinces, IRNA reports.

From among 18 registered companies, six of them enjoyed 100% foreign investment, nine others in joint venture and three more enjoyed BOT.

According to statistics, the volume of investment included industry field with 14 projects worth $416.2m, mine sector with two projects worth $680,000 and trade field with two projects worth $500,000.

The foreign investment in this period mostly consisted of chemicals, oil derivatives and nuclear fuels.

Investors from Afghanistan with five plans, Germany, China, the Netherlands and UAE with two plans and Austria, Italy, Azerbaijan, Turkey and New Zealand with one plan ranked 1st to 3rd respectively.

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