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NewsIran, Kuwait Agree to Build Large Steel Mill

Iran, Kuwait Agree to Build Large Steel Mill

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In a meeting between Iranian Deputy Minister of Industry, Mines and Trade Mehdi Karbasian and Managing Director of Kuwait Steel and Trade Company Awad al-Khaledi, the two sides agreed to make joint investment for constructing a steel mill in Iran in four phases.On Sunday, Iran and Kuwait signed six Memoranda of Understanding (MoUs) in different fields to pave the ground for the further expansion of friendly relations and cooperation between the two Persian Gulf nations.
The agreements were inked in the presence of Iran’s President Hassan Rouhani and Kuwaiti Emir Sheikh Sabah al-Ahmad al-Jaber al-Sabah in Tehran.
Sheikh Sabah arrived in Tehran on Sunday to discuss the latest regional and international developments and explore new avenue for consolidating Iran-Kuwait ties in all sectors.
This is the first Tehran visit by Sheikh Sabah Al Ahmad as Emir of Kuwait.
Sheikh Sabah Al-Ahmad, who came to power on January 29, 2006, was officially invited by President Rouhani.
Iran and Kuwait have sought to expand bilateral ties through exchanging several high-ranking delegations in the last few years.