Iranian Mines and Industries Development and Renovation Organization (IMIDRO) announced on Wednesday that managers of Italian firms Denali and Fata have presented plans for 4 billion euros investments in Iranian steel and aluminum industries.
Managers of the two Italian firms have made their investment proposals in separate meetings with Iranian Minister of Industries, Mines and Trade and IMIDRO Managing Director Mahdi Karbasian.
Denali Company's Managing Director John Pietro Benedetti in his meeting with the Iranian minister asked for expansion of bilateral relations in mines and industrial fields.
Denali and Fata companies have throughout the part 25 years implemented IPCF (Industrial Point Coordination Function) plans and under the prevailing post-JCPOA conditions they are asking for making investments in those fields.
The two companies are planning to establish a joint firm and invest in a 6.5 million ton iron ore and a 3 million ton sponge aluminum project in which the Italian side will invest 60% and IMIDRO 40%.
In a relevant development earlier this week, the National Iranian Drilling Company (NIDC) and the Italian oil firm Eni signed a draft MoU on expansion of bilateral cooperation in drilling industries, said the NIDC Vice-President Mohammad-Reza Takayedi.
Negotiations are underway with European firms including ENI and Saipem from Italy and an MoU was signed. It is expected that agreements will be finalized with the Italian companies, he said.
We have also been negotiating with a qualified German company on drilling services, investment, and exchange of technology, he added.
Takayedi also said that NIDC is ready to export its technical and engineering services in oil and gas drilling to neighboring Iraq. We hope to finalize the talks on signing drilling contracts with Iraq in few months.
According to Takayedi, firms from Turkey are also in negotiations over drilling projects.
By Fars News Agency
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