SACE to Support Iran’s Mining Projects

The largest Italian insurance company, SACE, is ready to provide 5billion Euros for insurance coverage of Iran- Italy relations, CEO of SACE announced.

CEO of SACE, Giovani Casellaneta , met Chairman of the board of IMIDRO, Mehdi Karbasian, yesterday.
We aimed to develop our relations with Iran as our relations before the sanctions and now we are ready to provide insurance coverage up to 5 billion Euros for Iran’s mines and mining industries projects, Giovani Casellaneta said.
SACE is the Export Credit Agency (ECA) of Italy, 100 percent owned by the Ministry of Economy and Finance .All SACE‘s commitments are counter_garanteed by the Italian government.
SACE has been participated in many mines and mining industries projects in Iran such as steel, aluminum sectors during the years before sanctions.
We are interested in cooperation with Iran. IMIDRO and SACE can prepare the situations for attendance and participation of Iranian and Italian companies at economic plans, Giovani Casellaneta expressed.
He noted that coherent relations between IMIDRO and SACE is very important for us. As IMIDRO will guarantee the insurance coverage of mine and mining industries projects commitments, he added.
Chairman of the IMIDRO explained that during the current months we signed several Memorandum of Understandings with Italian firms in steel and aluminum sectors which are proper actions for implementation of Iran’s projects and SACE insurance coverage.
Karbasian announced that we are ready to present new projects in order to be supported by SACE.

source: imidro