Exec says US firm to invest in Iran

Iran

TEHRAN, May 11, 2017 – A top executive from Iran’s Panid Engineering said on Wednesday that US company Pall Corporation would invest in a project to produce oil equipment in Iran.

The deal would mark the first investment by a US company in Iran since the 1979 revolution, but Pall Corporation has yet to confirm the announcement.

Neda Mousavizadegan, managing director of Panid Engineering, told a press conference at the Iran Oil Show 2017 that Pall would establish a production line for filters to be used in refinery and petrochemicals projects in Iran. She said the company would also transfer the filter production technology.

New York-headquartered Pall Corporation manufactures filtration, separation and purification products with global operations across countries such as China, Russia, Saudi Arabia, Australia, Algeria and Indonesia. Pall is a subsidiary of US design and manufacturing company Danaher Corporation.

Panid Engineering is a private Iranian industrial equipment manufacturer and, according to Iran’s Financial Tribune, the local sales partner of German diagnostic and monitoring equipment supplier Prognost Systems.

Mousavizadegan said the company would collaborate with Pall to set up an oil and gas filtration system plant around 40 kilometres west of Tehran.

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