Sunday, October 2, 2022

German Firm to Invest One Billion Euros in Iran’s Copper Industry

The National Iranian Copper Industries Company (NICICO) and Germany’s MKM Mansfelder Kupfer und Messing GmbH, which is one of the largest European holding companies, signed a one-billion euro deal to develop cooperation in copper industry.

“The MKM has expressed its willingness to invest in Iran’s mining projects and particularly downstream industries up to one billion euros,” Mohammad Esfandiar, a member of the NICICO board of directors, announced.

The NICICO is after “trade and technological interaction” with the world, branding and presence in international markets, the official noted.

The deal comes against the backdrop of a new wave of interest in ties with Iran after Tehran and the Group 5+1 (Russia, China, the US, Britain, France and Germany) on July 14, 2015 finalized a comprehensive deal on Tehran’s nuclear program and implemented it on January 16.

The comprehensive nuclear agreement terminated all nuclear-related sanctions imposed on Iran after coming into force.

Earlier in July 2015, German Vice-Chancellor and Minister for Economic Affairs and Energy Sigmar Gabriel visited Iran at the head of a high-ranking trade delegation, including the representatives of 20 German economic giants, and held meetings with senior Iranian officials to develop economic cooperation between the two countries.

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