Italian group to invest in Iranian food processing sector

Published November 6th, 2000 - 02:00 GMT

Texco, an Italian consortium, which includes 35 companies involved in the manufacture of machinery for the food industry, has indicated that it is prepared to inject capital into the food-processing sector in West Azarbaijan region of Iran. 

 

The Italian group's readiness to support the food processing sector followed a visit by the Texco general manager to the area, during which he made an inspection tour of a number of foodstuff-producing units in the provincial capital of Orumiyeh. He was accompanied by a team of industry experts. 

 

Speaking to IRNA, Nasser Zargar, the managing director of West Azarbaijan's industrial department, said that during the Texco general manager's visit, the two sides explored grounds for joint cooperation between the company and the industrial sector in the province. Zargar said that the Italian appeared ready to enter into joint ventures and buy-back schemes with investors in West Azarbaijan. 

 

Texco is not new to Iran. The consortium already has made significantly sized investments in the Salafchegan and Chabahar special economic zones. — (Albawaba-MEBG)

© 2000 Mena Report (www.menareport.com)


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