Iran urges Mitsui to return back

TEHRAN, June 6 (Shana) — Deputy Petroleum Minister for International Affairs Amir Hossein Zamani Nia on Monday urged Mitsui Company to invest in Iranian upstream, downstream and petrochemical projects.

He made the remarks in a meeting with Atsushi Kume senior executive managing officer for Europe, the Middle East and Africa at Mitsui Company.

Zamani Nia voiced hope for return of Japanese Mitsui company to Iran’s petrochemical industry.

He called for cooperation between Iranian and Japanese companies in both downstream and upstream industries in the post-sanctions era.

The official hailed the brilliant history of Mitsui presence in Iranian projects and said Iran’s petrochemical industry will need 80 billion dollars investment in the next decade.

During the meeting, Kume for his part lauded the key role of Iran in the region, noting that cooperation with Islamic Republic is important for Mitsui.

Mitsui Group is one of the largest keiretsu in Japan and one of the largest corporate groups in the world.

The major companies of the group include Mitsui & Co. (general trading company), Sumitomo Mitsui Banking Corporation, Sapporo Breweries, Toray Industries, Mitsui Chemicals, Isetan Mitsukoshi Holdings, Sumitomo Mitsui Trust Holdings, Mitsui Engineering & Shipbuilding, Mitsui O.S.K. Lines and Mitsui Fudosan.

Mitsui’s main business in the early period were drapery, finance and trade, the first two being the businesses it inherited from the Tokugawa Era.

Companies currently associated with the Mitsui keiretsu include Mitsui & Co., Sumitomo Mitsui Trust Holdings, Japan Steel Works, Mitsui Chemicals, Mitsui Construction Co., Mitsui Engineering & Shipbuilding, Mitsui Fudosan, Mitsui-gold, Mitsui Mining & Smelting Co., Ltd., Mitsui Oil Exploration Co. (MOECO), Mitsui O.S.K. Lines, Mitsui Petrochemical Industries Ltd, Mitsui-Soko, Mitsui Sumitomo Insurance Group, Oji Paper Company, Pacific Coast Recycling, Sumitomo Mitsui Banking Corporation, Taiheiyo Cement, Toray Industries, Toshiba Corporation, Tri-net Logistics Management, Mitsui Commodity Risk Management.

By SHAN