LONDON—Iran is pursuing the construction of four tire plants and is eagerly waiting for economic sanctions on the country to be lifted so it can let in top brands to invest in the industry, according to an official.
Hassan Shabani, head of the Iran Rubber Industries Research Centre, explained that the government body Industrial Development & Renovation Organization of Iran has introduced the four projects. The state will have a 19 percent share in each venture, with the remaining 81 percent to be offered to private investors.
According to Shabani, three of the proposed projects are located in western Iranian provinces of Lorestan (Khorramabad), Kermanshah and Kordestan, where the economy is not as strong as other central or major cities.
The fourth, which happens to be in one of Iran's poorest cities, Zahedan, is near the Pakistani border and bears high security issues.
And all the tire project backers are looking for top brands to join them in their investments.
“They are only looking at top brands, the likes of Pirelli, Bridgestone, Continental, etc,” said Shabani.