Iran is aiming to raise about US$12.5 billion through privatising more than 500 state firms during 2010-11, including two refineries.
Local media has reported that Mehdi Aqdaie, deputy director of Iran’s Privatisation Organisation, said the Bandar Abbas and Abadan refineries would be among the first companies offered for sales on the Tehran stock exchange.
“The projected budget (income) from the sale of the companies stand at around $12.5 billion, which will be used towards the reimbursement of government debt,” he said.
No details were given on the size of the stakes being made available by Iran or how much ownership the state would retain in the refineries.
Firms in the west have become increasingly wary of investing in Iran due to the nuclear dispute which exists primarily with the US.
The US and its allies suspect Iran of attempting to develop nuclear weapons, while the country denies the charge, saying it wants a nuclear energy programme in order to allow it to export more oil and gas.
Â
