§ Mr. Skeetasked the Secretary of State for Trade and Industry what is the total of British investment in Iran identified by industry.
§ Mr. Peter WalkerThe total book value of British direct investment in Iran, excluding oil, banking and insurance, at 401W 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. Skeetasked 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 WalkerA 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