VEB Bank to Support Iran, Russia Mining Projects
VEB Bank announced that is ready to support Russian firms to implement mining projects in Iran.
According to the press release of public relations of IMIDRO, CEO of VEB Bank and CEO of STG Company met Chairman of the board of IMIDRO in Tehran yesterday.
CEO of VEB Bank, Dimitrive Vladimir Alexandrovich, announced that VEB Bank is ready to support Russian firms in implementation of mining projects in Iran.
The request of President of Russia, Vladimir Putin, for strengthen of Iran, Russia economic ties especially in banking sector is an important factor in implementation of these projects, he said.
STG Company is ready to implement and finance Alumina production from Nepheline Syenite project, VEB Bank will support the project too. Many Russian companies are interested in cooperation development with Iran, he added.
Chairman of the board of IMIDRO, Mehdi Karbasian, expressed that declaration of financing of projects is prerequisite of bilateral cooperation in mining sector. This plan will open a new path in Iran and Russia cooperation development in mining sector. There were several meetings for joint projects such as Nepheline Syenite, Petroleum coke etc. last year.
IMIDRO’s top priorities for financing are two projects in Alumina production from Nepheline Syenite and Petroleum coke. Implementation of these projects may lead to joint venture in other mining sectors such as iron ore, coal… exploration. Implementation of these projects is a historic moment in the relation between the two countries, Karbasian added.
CEO of STG Company announced that the initial Memorandum of Understanding will guarantee the implementation of Nepheline Syenite project .Due to the presence of STG’s delegate in Iran, we can start Alumina production from Nepheline Syenite project by the end of the year 2015.
At the end of this meeting two sides signed Memorandum of Understanding to develop cooperation.
source: imidro
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