Volvo CE Offers €200m Worth of Mining Machinery

Volvo Construction Equipment has offered to provide Iran with €200 million worth of mining machinery, Iranian Mines and Mining Industries Development and Renovation Organization reported. 
Volvo CE’s Middle East managers pitched the proposal during a meeting with IMIDRO Chairman Mehdi Karbasian in Tehran on Wednesday. 
Officials from Swedish National Export Credits Guarantee Board (EKN), who were also present at the meeting, called for guarantees from Iran’s Ministry of Economic Affairs and Finance, Central Bank of Iran or IMIDRO itself to go ahead with the deal in its first phase, which could go beyond the proposed €200 million in subsequent phases.