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Iran to invest $185 billion in oil and gas by 2020

by ChemOrbis Editorial Team -
  • 24/07/2015 (15:12)
According to media reports, Iran is seeking to rebuild its main industries and trade links following the expected removal of economic sanctions on the country. The country reportedly aims at investing around $185 billion in nearly 50 oil and gas projects by 2020.

Iran’s Minister of Industry, Mines and Trade, Mohammad Reza Nematzadeh stated that Iran is not interested in unidirectional imports of goods and machinery from other countries. According to the minister, Iran now plans to achieve two-way trade as well as cooperation in development, design and engineering.

Sanctions against Iran could be removed towards the end of this year following the landmark nuclear agreement between Iran and the P5+1 (the US, Germany, France, the UK, Russia and China) powers in Vienna on July 14.
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