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Today is Thursday - Agost/13/2020
Nicaragua seeks Iranian investment in its energy sector


Nicaragua seeks Iranian investment in its energy sector



Nicaragua invites Iran to make investment in its energy sector, Nicaraguan Foreign Affairs Minister Samuel Santos Lopez stated.

He made the statement in a meeting with Iranian Energy Minister Hamid Chitchian in Tehran on Monday, according to the IRNA news agency.

He said Nicaragua is a stable and safe country for investment making, in a way that the volume of its direct foreign investment has risen 400% since 2007.

The minister invited Iran to dispatch a delegation to the Nicaraguan capital Managua.

Chitchian said that in the meeting, the two sides investigated ways to expand bilateral cooperation mainly in the field of building hydroelectric and wind power plants and dams.

On June2, Iranian Deputy Energy Minister Esmaeil Mahsouli said Iran is currently implementing 70 water and power projects, valued at $3.8 billion, in other countries.

The country has already terminated 224 projects, worth $1.508 billion, outside the country and is negotiating to carry out another 39 projects, valued at $2.3 billion in other countries, he added.

Iran has exported over $4.35 billion of technical and engineering services since the beginning of the current Iranian calendar year (March 21).

On June 15, an official with the Trade Promotion Organization of Iran (TPOI) said the country’s annual technical and engineering exports is projected to hit $7.6 billion in the current Iranian calendar year.

Iran exported $2.261 billion worth of technical and engineering services in the past Iranian calendar year.

On June 16, the secretary of International Consultants and Contractors Association of Iran (ICCA) said the country’s annual technical and engineering exports value is projected to reach $10 billion in less than five years.