Mr. Harati Nik was the man who cancelled most of the agreements...

Mr. Harati Nik was the man who cancelled most of the agreements with UCL. Now it appears his IMIDRO organisation is to be privatised...

Source http://www.mehrnews.com/en/NewsDetail.aspx?NewsID=572386

Iran to sell over $4b worth of IMIDRO shares

TEHRAN, Oct. 21 (MNA) – Over 41 trillion rials ($4.3 billion) worth of Iranian Mines and Mining Industries Development and Renovation Organization’s (IMIDRO) shares will be offered in the Tehran Stock Exchange (TSE) by the end of current Iranian year (March 19, 2008), said IMIDRO head here on Sunday.


Ahmad-Ali Harati-Nik, also the deputy industries and mines minister added that steel, aluminum, copper, mine, and cement groups are privatized.



He put the organization’s current capital at over 32 trillion rials ($3.4 billion).



IMIDRO ranked second in terms of export among 100 leading companies in the country, the official boasted, announcing the organization sold 93.531 trillion rials (some $10 billion) worth of its products in the last Iranian year.



The center sold 61, 18, 9, 6, 2, and 4 percent of steel, copper, mineral, aluminum, cement, and other products respectively last year, Harati-Nik added.



The deputy minister said that the organization’s exports fetched Iran $2.457 billion in the previous Iranian year, indicating a 30 percent rise when compared to the figure of its preceding year.



Shifting to mineral explorations, he announced that investment in the sector doubled last year in comparison with its previous year.



NK/KK

END

MNA