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Iran to implement water, electricity projects in Cuba

Madrid, Nov 21, IRNA -- Iran is to carry out two industrial projects to supply water and electricity to Cuba.

Iran's Export Development Dank Manager Norouz Kohzadi and Cuban Minister of Government Cardio Cabrisas concluded the agreement to that effect in Cuba on Saturday, according to the Iranian embassy in Havana.

During a meeting, Kohzadi outlined aspects of the current banking cooperation between the two countries and expressed Iran's readiness to provide the necessary financing for the projects at medium rate of return.

The Cuban minister welcomed the agreement, expressing his satisfaction over the trade and banking cooperation between the two countries.

He stressed the importance of further boosting the two countries' economic cooperation.

The managing director of Sanir Company of Iran, who is currently in Havana, also elucidated on the modalities for implementation of the two industrial projects.

The exact amount needed to finance the projects as well as Sanir Company's undertaking to implement the project has still to be announced by the Iranian embassy in Havana.

... Payvand News - 11/21/04 ... --

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