Iran opens to foreign investors, Riad places the onus on investments in Turkey

Iran opens to foreign investors, Riad places the onus on investments in Turkey

Emilio Fabio Torsello
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Riad secures agreements with Ankara for a number of projects in the energy and infrastructure sector. Khalid Al Falih: "the first step of an investment worth billions"

The oil market is in full fervour, amidst agreements and new calls for tender that are attracting international investors in key countries such as Iran. Today in fact Tehran begins the bidding for some concessions in the country worth billions, kicking off with the first oil projects that will go to foreign concerns. NIOC, the country's energy company, will solicit the interest of foreign investors, who will have until November 19 to express their intentions. The government will then have until December 7 to announce the chosen bidders. This is a sign of how Iran wants to renew the country’s entire energy sector.
Still on the oil front, the Ruia brothers - entrepreneurs in the Indian oil sector - will sell part of their oil business to Rosneft, one of Russia's biggest crude oil production companies, and to the Trafigura and United Capital Partners consortium. The entire operation will be worth around $13 billion.
At market level, lastly, the Investment Support and Promotion Agency of Turkey (ISPAT) is preparing a report on possible investment opportunities by Saudi Aramco in Turkey, in the field of energy, refining and infrastructure. The Riad company, in fact, has signed 18 Memorandums with Turkish companies in the sectors of electricity, infrastructure, airport and road construction. And Saudi Arabia’s Secretary for Energy, Khalid Al Falih, stated that the country is "willing to work with the Turkish companies, in view of the Vision 2030 program. These Memorandums of understanding will be a first step within this process. We intend to increase an investment that currently totals several billion dollars.‘