Iran implements $350m worth of projects in Venezuela

Tehran Times Economic Desk

In a joint session which was held between officials of Iran’s industry sector and Venezuelan counterparts, Ali-Akbar Mehrabian Iranian minister of Industries and Mines stated that Iran has so far carried out several projects in Venezuela valued at 350 million dollars.

IRNA quoted Mehrabian as saying that Iran has projects worth $4 billion underway and $6 billion worth of projects are on the agenda.

He added that within the next weeks the two sides will sign a deal on construction of oil platforms by Iran.

Mehrabian said that the two countries have inked over 180 accords, noting Iran has conducted several oil and gas projects plus to construction of tractor, car, and cement producing factories.

The official made his statements in a meet with Venezuelan Basic Industry and Mining Minister Rodolfo Sanz which was held in Tehran in the Ministry of Industries and Mines.

He referred to the mutual ties as a deep relation between two main regions of Middle East and Latin America, citing the initiation of the Industrial Management Organization in Venezuela is the other mutual cooperation.

Sanz put his country’s foreign policy at creating a multi-polar world, adding considering the poverty in the Latin American countries, the economic growth in the Latam states in recent years stood at four percent.

The official added that the aim behind the strengthening the mutual ties is to reinforce Venezuela industries and converting it to a exporter of manufactured products and technology from its current condition of exporter of raw material.