Iran is finalizing about €2 billion of investment from Europe in copper and steel projects despite threatened new US sanctions, a government official said on Wednesday.
"Early talks are also underway with Swiss investors to develop Mehdiabad, one of the world’s largest zinc deposits," Mehdi Karbasian, deputy minister of industries, mining and trade, told Reuters.
“We’ve had experience (of sanctions) of more than 35 years, but I hope this time Europeans are going to continue to invest,” Karbasian said in an interview on the sidelines of the CRU Aluminum Conference in London.
“We’ve been having very good relations with Europe with a lot of imports, exports and investment for the benefit of both European companies and Iranian companies.”
Karbasian is also chairman of IMIDRO, the state-owned Iranian Mines and Mining, Industries, Development and Renovation Organization.
April 27, 2018 19:02
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Iran Finalizing €2b of Foreign Investment in Mining Projects
Current talks regarding the €2 billion worth of projects include Italian and Austrian investors in two steel billet plants, while Danish investors are seeking to build a copper mine. Early talks are also underway with Swiss investors to develop Mehdiabad,
Iran’s foreign investment law, the Foreign Investment Promotion and Protection Act, offers protection against expropriation and nationalization, and allows foreigners to hold 100% ownership of Iranian legal entities
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