Iran Mulling $3bln Investment in Syria

A03444645.jpgTEHRAN (FNA)- Iran’s Minister of Industries and Mines Ali Akbar Mehrabian announced here on Monday that feasibility studies were underway for executing $3 billion worth of projects in different fields in Syria.

“We already have $1.3 billion worth of various projects at hand in Syria,” he added on the sidelines of the 55th Damascus International Fair, the Islamic Republic of Iran Broadcasting (IRIB) reported.

“Our specialists have already inaugurated car production lines, cement production plants, electricity power plants, water channels, and silos in Syria,” the official explained.

Elsewhere he said that the Syrian market is ready for Iranian products and technology transfers.

“Merchants, businessmen, and Iranian investors must take advantage of this opportunity and find their place in the Syrian market,” he added.

Mehrabian also held talks with Syrian Industry Minister Fouad Issa Juni on the sideline of the fair on issues of mutual interest, IRNA reported.

At the meeting, Mehrabian said Iran and Syria are interested in bolstering bilateral ties in all fields.

Mehrabian also added negotiations are underway for setting up of bus and household appliances production lines in Syria.

Juni, for his part, termed the two countries’ ties as excellent and growing, adding the Islamic Republic’s industries were of high quality.

Some 30 Iranian companies are participating in the 55th Damascus International Fair which opened in the Syrian capital on Friday night.

The Iranian companies active in such fields as construction, silos, tractor manufacturing, household appliances, furniture, packaging machinery, foodstuff, road construction equipment, polyethylene products, plasticware, car manufacturing, and electrical equipment and so on are participating in the exhibition.

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