The US company has signed a preliminary agreement on investments into the bio energy project with Iran, reported ISNA agency.
According to the agreement, California-based World Eco Energy will invest $1,175 billion into the joint commercial project to produce power from bio fuel
The company plans to build a plant on the southwest of Iran and use its own technologies of power generation by burning rubbish and also processing of sea weeds, salts and sewage. The plant will create between 600 and 700 jobs. 80% of the staff will be comprised of local residents.
ISNA agency reported that the project will be launched in September 2014 and signing of the contract is the sign of interest of the western business into the investments into Iran on the threshold of lifting economic sanctions against Iran, reported http://rusenergy.com.
