Huge deal between France and Iran

Press, Volume CXIV, Issue 33456, 11 February 1974, Page 13

Huge deal between France and Iran

i.V.Z. Preu .Association—Copvrishti PARIS. February 9. France and Iran today have announced a S\Z33()I million deal under which France will build nuclear plants, lactories. and pipelines in Iran in return for natural gas and oil exploration rights. United Press International reported. Financial sources said that they believed it "a* the l>igge»t agreement of its kind made between an industrial country and an oil-producing State.

The agreement was signed by the Finance Minister (Mr Valery Giscard d'Estaing) and Iran’s Minister of Economic Affairs (Mr Houshang Ansary) after two days of talks ’ by members of a mixed Franco-Iranian Economic Commission. Finance Ministry sources said that several contracts worth about SNZ2OI6 million are in advanced negotiation and the latest talks

added projects worth a tur-| ther SNZIOOB million to SNZI344 million. They outlined the princi-l pal areas of co-operation as follows: Nuclear energy: Iran >aid' that it was prepared to I order from France five nuclear power plants, under conditions to be arranged between the companies and competent authorities of the two countries. Oil: French companies expressed their desire to, secure further exploration rights in Iran. It was agreed that common exploration could be carried out (by Iran and France) in third countries. Natural gas: French companies were prepared to construct a pipeline in association with other, European interests to bring natural gas to I urope. The two delegations agreed on the joint construction of a gas liquefaction plant in Iran and assurance of the

I movement of this gas. particularly to France. Transport: The Iranian delegation promised to study a proposal from the French Gas-Ocean Company for the con- ’ struction. with the cooperation of National Iranian Petrochemical Society, of a fleet of Iranian gas and pet rochemical transports s. Petrochemicals: Ihe Iranian I delegation said that it was prepared to start negotiations on a i French C.F.0.-Chimie proposal to co-operate with the National Iran i a n Petrochemical Society in the construction of SNZ336 million petrochemical industry in Iran. Industry: It was agreed to put into effect projects 1 of mutual interest in the industrial field such a.-, roadbuilding, ore works, the provision of foundries. presses and textile machinery, and construction of a steel works.