Russia and Iran sign an agreement in the field of biotechnology

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Russian RegionTransNeft and Iranian Inter Naft Gas Prom Pars (INGP Holding) signed an investment agreement in the field of medicine, biotechnology and bioengineering in Tehran, IRNA news agency reported.

On the basis of the agreement, RegionTransNeft plans to implement a number of projects in Iran in the near future, namely, to launch the production of antiretroviral and anti-COVID drugs. In addition, the group of promising projects included:

– Production of various important medicines with different effects on different human diseases;

– Production of biologically active substances which are in high demand in international markets;

– Creation of several autonomous networks of small specialized medical clinics.

We are also talking about the creation of a specialized Iranian company to implement the following two investment programs:

– Establishment of a network of manufacturing enterprises for the production of medical equipment and for the production of medical devices, followed by sales in Iran and elsewhere in the world;

– Establishment of a trade network for the sale of medical equipment and medical products in Iran and elsewhere in the world.

The parties also agreed on the formation of a network of research commercial medical laboratories. In addition, the agreement includes a clause on the opening of a private Russian-Iranian company. All of the listed projects will be implemented at the expense of investment capital from Russia with the active participation of the company RegionTransNeft.” The company’s activities will be carried out with the support of authorized capital in the amount of €400 thousand.