137 Credible International Companies Applied for Investment
Deputy Minister of Industry, Mine and Trade said in the current year (started March 21, 2015), especially since the implementation of the Joint Comprehensive Plan of Action (JCPOA) to date 137 creditable international industrial and mining companies have held direct talks with the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) for investment.
Mehdi Karbasian told to public media that the talks are indicative of the importance of Iran for foreign investors, adding that in order to reach the vision targets such as turning Iran into the strongest economic power in the region there is no option but foreign investment.
Karbasian referred to the establishment of a joint company of IMIDRO with Italy which is in its registration phase as an effective step for industrial and mining companies to gain access to the latest technologies through joint investment.
IMIDRO chief pointed to steel as the parent industry and stressed that if the targets of 2015 horizon are expected to be realized, the country’s steel production should reach 55 million tons, 15 million tons of which is predicted to be exported.
About JCPOA:
The Joint Comprehensive Plan of Action (JCPOA) known commonly as the Iran deal, is an international agreement on the nuclear program of Iran reached in Vienna on 14 July 2015 between Iran, the P5+1 (the five permanent members of the United Nations Security Council—China, France, Russia, United Kingdom, United States—plus Germany), and the European Union.
Formal negotiations toward the Joint Comprehensive Plan of Action on Iran’s nuclear program began with the adoption of the Joint Plan of Action, an interim agreement signed between Iran and the P5+1 countries in November 2013. For the next twenty months, Iran and the P5+1 countries engaged in negotiations, and in April 2015 agreed on a Iran nuclear deal framework for the final agreement and in July 2015, Iran and the P5+1 agreed on the plan.
Under the agreement, Iran agreed to eliminate its stockpile of medium-enriched uranium, cut its stockpile of low-enriched uranium by 98%, and reduce by about two-thirds the number of its gas centrifuges for 13 years. For the next 15 years, Iran will only enrich uranium up to 3.67%. Iran also agreed not to build any new heavy-water facilities for the same period of time. Uranium-enrichment activities will be limited to a single facility using first-generation centrifuges for 10 years. Other facilities will be converted to avoidproliferation risks. To monitor and verify Iran’s compliance with the agreement, the International Atomic Energy Agency (IAEA) will have regular access to all Iranian nuclear facilities. The agreement provides that in return for verifiably abiding by its commitments, Iran will receive relief from U.S., European Union, and United Nations Security Council nuclear-related sanctions.
