Hyundai interested in Iran's energy sector
South Korea ’s Hyundai has announced readiness to cooperate with Iran Power and Water Equipment and Service Exports Company, known as Sunir.
A group of senior managers of Hyundai met in Tehran with their counterparts in Sunir, announcing readiness to launch joint ventures in the regional countries, IRNA news agency reported.
Sunir managing director Bahman Salehi said that the company has implemented different projects in water and power sector in East Asia, the Middle East, Africa, and South America, and is ready to cooperate with Hyundai in target markets.
Previously, Hyundai held negotiations with Iran for participation in the country’s petrochemical projects, joining major international companies in a hunt for new opportunities.
Officials of European and Asian firms have repeatedly made formal applications for a share in Iran 's new development projects over the past few months in the wake of nuclear deal between Iran and world powers.
Iran and the group called P5+1 (the US, UK, France, Russia, China, and Germany) reached a final deal - also called the Joint Plan of Action or JCPOA - on Iran 's nuclear program July 14.
The deal will help keep Iran's nuclear program under close inspection and in return it will remove economic sanctions on the Islamic Republic.
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