Head of the Republic of Dagestan Ramazan Abdulatipov highlighted the ample opportunities for investment in the North Caucasus region, calling on Iranian businesses to participate in projects in the Caspian region. In a meeting with Iran's Ambassador to Russia Mehdi Sanaei at the Iranian Embassy in Moscow on Saturday, Abdulatipov said the Russian republic has plans for a large number of economic projects, inviting Iranian merchants and business people to invest in the region, Tasnim News Agency reported.
He stressed the deep-rooted cultural ties between Iran and Dagestan, and hoped for holding an exhibition of Iranian artworks in the republic's capital, Makhachkala, in the near future.
In a meeting with Iran's ambassador in Moscow last year, Deputy Chairman of the Federation Council of Russian Federation Ilyas Umakhanov had also requested Iran to participate and make investments in the construction of a hydroelectric plant in Dagestan.
He urged Tehran's investment in the form of a joint company for completing the construction of a refinery in Dagestan. The Republic of Dagestan is a federal subject of Russia located in the North Caucasus region by the Caspian Sea. With an area of more than 50,000 square kilometers, Dagestan is rich in oil, natural gas, coal and other minerals.
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