The Privatization Organization of Iran recently turned over 310 trillion IRRs ($7.4 billion) of IMIDRO (Iranian Mines & Mining Industries Development & Renovation Organization) assets. The CEO of IMIDRO, Mahdi Karbasian says that by March 2017, 40% of this sum was entrusted to the private sector and co-ops, 8% was entrusted as justice shares and 52% were set to clear the company’s debts. Donya-e-Eghtesad quotes Mr. Karbasian as calling the transfer unspecialized. He believes that since the 20% share, which is required to maintain voting and ruling rights has not been maintained, IMIDRO will not be able to maintain guarantees for domestic and foreign facilities and credit. He also claims that part of this debt is not the organization’s fault; IMIDRO’s 45 trillion IRRs (1 billion USD) debt is the result of money owed to this organization.
The Ministry of Health has announced that commercial insurance companies have over 10 trillion IRR debt to this ministry; 80% of which is the debt of Iran Insurance Co. Shargh quotes the Ministry spokesperson and […]
Aluminum Complex: A plan for 1.5 million tons production Iran aims to three-fold its aluminum production by 2025. As aluminum is an energy-consuming industry, one of the key factors is where to build the plants. […]
With the opening of the Neishabur Steel Project, the country’s direct reduced iron production capacity has increased to 800 thousand tons, annually. Shargh however, considers this as one of the seven projects which were carried […]