to-the-point: Italian firm signs USD-450m bioethanol pact in Iran

A private sector company from Italy has signed a memorandum of understanding (MoU) valued at USD 450 million (EUR 402m) to invest in a bioethanol production facility in Iran.

IRNA news agency reported this on Tuesday, quoting Ali Khedmatgozar, head of the Amirabad Special Economic Zone in the northern part of the country, where the project will be located. He did not reveal the name of the Italian investor, but said it will soon send a delegation to sign a definitive agreement and identify a site for the project.

Khedmatgozar has said the new plant will produce bioethanol from farm waste such as wheat straw.

(USD 1.0 = EUR 0.893)

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