| 02 Dec 2008 |
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Iranian Mobina Group to buy 2 Belarusian banks
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Tehran - Iranian Company Mobina Group intends to buy shares of two Belarusian banks, the company's chief executive Mohammadreza Izadbin said on Monday.
"Talks are underway with the banks and once the sides reach an agreement, the firm will commence its economic projects in Belarus,"" Izadbin said in his meet with Belarusian Prime Minister Sergei Sidorski.
According to ISNA, the Iranian firm is planning to construct a waste recycling plant, as well as some trade and residential complexes in Belarus.
Meanwhile, Iran's Bank TejaratBank Tejarat
is going to open a branch in that country with an initial capital of five million euros. Over recent years Belarus has increased its economic relations with Iran, for instance, oil exploration activities in Iran, launching Samand sedan assembly line and establishing trade and office centers by Iranian experts in Belarus.
Belarus is looking forward to selling shares of many of its private banks to foreign investors.
The Mobina Group is an internationally renowned conglomerate of investment and trading companies with an annual turnover in excess of €500 million during the most recent 2007-2008 fiscal year.
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