Code: 81981753 (5201496) | Date: 27/02/2016 | Time: 12:35|
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Ambassador: Iran to examine profitability of refinery in Andalusia

Madrid,, Feb 27, IRNA – Iran’s Ambassador to Madrid said Tehran will examine profitability of an oil refinery in Andalusia, south of Spain, the plan for which is still under study.

The Spanish daily ABC wrote that the possibility for the establishment of relations with Iran is tantamount to new trade opportunities for the companies in Spain’s Andalusia.
It further added that Iran’s Ambassador to Spain Mohammad Hassan Fadaei-Fard invited by the Chamber of Commerce of Seville, capital city of Andalusia, visited the city to meet and hold talks with heads of the companies there.
According to the daily currently the most important trade issue in Iran-Spain relations is the construction of a refinery in Algeciras which will attract an investment of 3 billion euro for the area.
The Iranian ambassador said the Magtel Company of Andalusia visited Iran and expressed its interest in cooperating in the construction of a refinery in Spain. To this end, he held negotiations with the Iranian government and signed a draft agreement for the study of this initiative within the framework of Spanish regulations.
He said possibilities are extensive for cooperation between Iran and Andalusian companies, adding that efforts are being made for a $300 billion investment in the next 6 years of which 50% will be spent on energy sector, oil and gas in particular.
Fadaei-Fard further remarked that great opportunities are available for the Spanish companies in tourism, agriculture, water, transportation, railway and airport management areas.

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