Tuesday, 14 November 2006

Iranian Investments in Syria


Iran’s foreign contracts in the technical and engineering service sectors last year, hit around $1.5 billion.
Building a cement production plant in Syria valued at $200 million, construction of residential units in Venezuela valued at $400 million and a $250m contract to build a power plant in Nigeria are among the major foreign projects currently being developed by Iranian contractors.
Export of the technical and engineering services are included in the development of the nation’s non-oil exports programs, a statement released on Sunday by Trade Promotion Organization of Iran (TPOI) said. Given the government’s all-out support, it is expected that the contracts, services and the target markets to grow and vary significantly in the near future, the Persian service of ISNA quoted parts of the statement.
The government is outlining an incentive package based on which Iranian foreign contractors would be directly or indirectly supported, the report said adding that upon implementation, the act would lead to the significant growth in the exports of the technical and engineering services by the end of the nation’s Fourth Five-Year Socioeconomic Development Plan (2004-2009).


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