Sunday, December 11, 2005

Iran, Venezuela ink 850-million-dollar contract - Irna

Iran, Venezuela ink 850-million-dollar contract - Irna
Iran and Venezuela have inked a contract worth dlrs 850 million and a memorandum of understanding worth between five to seven billion dollars for exchange of industrial products and technical and engineering services.

Minister of Industries and Mines Ali-Reza Tahmasebi told reporters that the contracts were signed during his recent visit to Venezuela and following talks with Venezuelan industrial and economic officials.

Tahmasebi said Iranian and Venezuelan officials had signed 21 cooperation contracts in the course of the third Tehran-Caracas joint economic cooperation commission session.

He said that contracts call for cooperation in gas,
petrochemicals, and aluminum sectors, establishment of brick mill and construction of a second cement plant in Venezuela by Iran.

He added that the value of the cement plant is dlrs 200 million and negotiations are underway for building 10,000 construction units in that country.

Elsewhere in his remarks, Tahmasebi said his ministry welcomed foreign investment for expansion of industry and economy and for promotion of exports.

He said more than dlrs 674 million in foreign investment has been made in the country in the first seven months of the year, including dlrs 382 million in the industry sector. "

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