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Iran to sell 40% of copper, aluminum, and steel companies' shares


TEHRAN, July 23 (Mehr News Agency) - The cabinet approved on Sunday the privatization of 40 percent of the National Iranian Copper Industries Company (NICICO), Mobarakeh Steel Company, and Iranian Aluminum Company (IRALCO).

The companies will be privatized in installment in the domestic stock exchange and via international marketing.

The privatization of 5 percent of some insurance companies and banks which are Bimeh Dana, Bimeh Alborz, Bimeh Asia, Bank Tejarat, Bank Saderat Iran, Bank Mellat, Bank Refah, and Post Bank was also ratified in the cabinet's Sunday session.

Oil companies' salable stakes defined

TEHRAN, July 24 (Mehr News Agency) - The government spokesman announced here on Tuesday that the percentage of 17 oil companies' salable shares has been finalized.

Talking to MNA, Gholamhossein Elham added that a hundred percent of 13 oil companies and 49-85 percent of the four other will be privatized in the current Iranian year (started March 21, 2007).

He referred to Petropars, Petroiran Development Company, North Drilling Co. and the petrochemical companies of Ghadir, Amir Kabir, Fanavaran, and Bisotun as the main privatization-bound companies.

Iran to offer facilities for investment in Qeshm

TEHRAN, July 23 (Mehr News Agency) - The Trade Promotion Organization of Iran (TPOI) will allocate 15 kinds of facilities for investment on southern Qeshm Island, said the commerce minister's advisor here on Monday.

Hassan Soltaninia, also the ministry's plenipotentiary representative, added that the government's and Qeshm Free Zone Organization's (QFZO) goal is to increase the country's economic strength and to promote economic security and national sovereignty.

To fulfill the goal, the QFZO intends to offer 15 facilities to the investors, including a 15-year tax dispensation, 100 percent free participation in foreign investment, employment permit for foreign manpower, discount for import tax, no visa for entering the island, and other incentives.

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