HC Deb 05 December 1973 vol 865 cc400-1W
Mr. Skeet

asked the Secretary of State for Trade and Industry what is the total of British investment in Iran identified by industry.

Mr. Peter Walker

The total book value of British direct investment in Iran, excluding oil, banking and insurance, at the end of 1971 amounted to £5.9 million. In addition there was substantial investment in oil. Separate figures are not available by industry because they would disclose confidential information. Iran, however, offers major prospects for investment and industrial co-operation. At the Iran-United Kingdom Investment Conference which I attended last week in Persepolis I was able to announce details of a number of joint venture agreements between Iran and United Kingdom enterprises worth an estimated total value in excess of £250 million.

Mr. Skeet

asked the Secretary of State for Trade and Industry how many British industrial joint ventures have been negotiated with Iranian companies ; and if he will identify those established and the products produced or manufactured.

Mr. Peter Walker

A list of British firms which have established joint ventures with Iranian enterprises is as follows :

LIST OF JOINT VENTURES

  • Aladdin Iran Co.
  • Leyland Motors Iran.
  • Khalij Markazi (Keir and Cawder).
  • Pars Oil (Shell).
  • Dorman Diesel Iran.
  • Tuf Footwear, Iran (with Melli Shoe Co.).
  • Shell Shimiya'i Iran (Shell Chemical Co.).
  • Maltai Co. (Skol International).
  • Harir Pars Paper Co. (Reed Group).
  • Payen Co (Engineering Components Ltd.).
  • Iran Shellcott Co. (Shell / Mitchell Cotts).
  • Pars Metal Co. (Delta Walker Fittings Ltd.).
  • Panther Chemical & Industrial Co. Inc. (Walpamur).
  • Yorkshire Insurance.
  • Chartered Bank.
  • British Bank of Middle East.
  • Cooper and Lybrand.

Company Location Projected steelmaking capacity (tonnes p.a.)
Hall Engineering … … Birkenhead … … 150,000 (initial capacity)
Elkem Spigerverket … … Manchester … … 100,000 (initial capacity)
GKN … … Cardiff … … 400,000
Lloyd Cooper … … Dudley … … 75,000
Sheemess Steel … … Sheerness … … Phase I, 180,000 (already in operation)
Phase II, 220,000

Forward to