Germany, Spain eye energy efficiency projects in Iran

TEHRAN, April 05 (Shana) –- An Iranian energy official says Germany and Spain have voiced readiness to invest in energy efficiency schemes in Iran.

Managing Director of the Iranian Fuel Conservation Company (IFCO) Nasrollah Seifi told Shana that talks are under way with German and Spanish companies in this regard as the firms have indicated serious interest in joining energy efficiency projects in Iran in the wake of removed economic sanctions on Iran.

“Germany and Spain have called for partnership in renovation of old trucks and buses in Iran,” Seifi said.

He said nothing has become finalized yet but talks are going on.

IFCO is seeking to attract foreign investments to finance its projects, he said, adding that the return on investments in these projects is guaranteed and risks of investments are relatively low.

The company signed an MoU in February for renovation of 65,000 commercial vehicles under a master plan.