Iran’s Ministry of Economic Affairs and Finance Saturday approved five foreign-financed projects -- three valued at $950,000 and two worth €8.9 million.
To enforce Article 6 of the law on supporting foreign investment, the permission was granted to Georgian Mining-Geological Project Ltd.
The company was allowed to invest in exploratory projects of basic metals such as copper. The whole capital is $250,000, of which 90 percent is invested by the Georgian company and 10 percent by Iran’s private sector.
Two Afghan nationals received the nod to establish an independent Iranian company to process and package sesame. The company’s capital is equal to $500,000.
Two other Afghan investors were also permitted to invest in Mashhad clothing companies. Totally $200,000 will be invested in the project.
The other permit was given to Austria’s Voest-Alpin Intertrading Company that is to invest in the Caspian Cereals Trading Company by €90,000, 48 percent of the stocks, to construct warehouse, and loading and unloading installations.
Three Iranians are the others who were allowed to invest in paper manufacturing project via establishing an independent Iranian company by an €8.7 million investment.
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