Group Steel
Indian Tata Group Keen to Invest in Iran's Economic Projects
(Minews)- Indian Tata Group expressed its willingness to invest in various fields of Iranian economy, specially its mining and energy sectors.

Chief of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) Mehdi Karbasian and the Tata Group's officials Madhu Kannan and Janaki Chaudhry as well as Indian ambassador to Iran D. P. Srivastava, in a meeting in Tehran on Friday, discussed ways for investment of the Indian side in Iran's steel and energy projects.

During the meeting, Kannan said, "We are seeking finding new partners for conducting projects and long-term activities (in Iran)."

"We did not have partners in Iran for investment and conducting projects, but we are seeking such kind of cooperation with Iranian side on these fields," he further added.

Karbasian, who is also the Deputy Minister of Industries, mines, and trade, said Tata's mining and mineral industries could work with Iran on joint investment, steel industry and mining.

He also pointed out that the Indian company can also work on lead, zinc, coal, coke, aluminum and titanium.

Iran and India which have deep historical and cultural relations are now seeking to further expand political and economic ties.

India, the world's fourth-largest petroleum consumer, is Iran's second largest oil customer after China and purchases around $12bln worth of Iranian crude every year, about 12 percent of its consumption.

India and Iran have been holding discussions at regular intervals on issues related to economic cooperation under the joint commission mechanism, which was established in July 1983.
Publish date : Saturday 15 March 2014 22:58
Story Code: 5448