TEHRAN (FNA)- Iran is showing interest in building a cement plant in Uruguay and signing an agreement with that South American nation based on the exchange of oil for rice.
The president of the National Administration of Fuel, Alcohol, and Portland (ANCAP), Raul Sendic, said that the proposals are under study, reported El Pais daily on Monday.
On Friday, ANCAP manager’s office presented a project to restore and enlarge the cement plant of Paysandu, about 233 miles northwest of Monetvideo, to a delegation of the Iranian governmentÂ´s foreign Investment Agency.
According to the daily, it is essential for ANCAP to make investments in the cement sector to end with its losses in the Portland division, which is amounting to about six million dollars a year.
Regarding the Iranian proposal of supplying oil to Uruguay and charge it for rice, Sendic predicted that he will travel to Tehran in mid April to discuss a deal on that issue.