Italy to Invest $450m in Iranian Biofuel Project

By John Lee.

An undisclosed Italian private investor will invest $450 million to build a plant to produce bioethanol fuel from inedible wheat at the Amirabad Special Economic Zone (ASEZ), in the north of Iran.

ASEZ managing director Ali Khedmatgozar told IRNA that one million tons of wheat per year will be processed at the plant.

The contract and exact location are to be finalised shortly.

(Source: Tehran Times)

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