Iran authorizes foreign investment in national oil industry

Jan 18, 2003 01:00 AM

The Majlis joint commission, which is to study the state budget bill for the next Iranian calendar year of 1382 (starting March 21, 2003), authorized foreign investment in Iran's oil industry. The commission had authorized the flow of foreign capital for establishing oil refineries in Iran with a production capacity of as much as 300,000 barrels under the build, operate and transfer (BOT) contracts.
The commission's rapporteur Mohsen Farahani was quoted as saying that the authorization comes in light with Majlis efforts to implement the law on supporting foreign investment in Iran, and to help the government with its programs to tackle unemployment.

Farahani said that the commission had also assigned the Oil Ministry to conclude buyback deals with foreign contractors to launch oil and gas exploration and implementation projects in underdeveloped areas such as Makran, Jazmourian, Sistan and Baluchestan, and Tabas. He said that the commission's license also includes projects to establish hydroelectric, gas, steam, and combined cycle power plants with a production capacity of 12,000 MW under BOT contracts.
The commission, Farahani added, further gave the go-ahead to the government to conclude BOT deals with foreign parties to develop urban water and sewage projects, to install 2,400 km of railway and to construct 1,100 km of highway in the country.

Source: IranMania News
Alexander's Commentary

Change of face - change of phase

In the period of July 20 till August 3, 2015, Alexander will be out of the office and the site will not or only irreg

read more ...
« October 2019 »
1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31

Register to announce Your Event

View All Events