​​Industrial Development and Renovation Organization of Iran (IDRO) was established in 1967 to develop the industry sector and to accelerate the industrialization process of the country.

In recent years and in accordance with the country’s privatization policy, IDRO has made great efforts to privatize its affiliated companies.

While carrying on its privatization policies and lessening its role as a holding company, IDRO intends to concentrate on its prime missions and to turn into an industrial development agency. IDRO has focused its activities on the following areas in order to materialize such strategy and to expedite the industrial development of Iran:

• Promotion of local and foreign investments with minority holdings owned by IDRO (less than 50% of the shares) with particular emphasis on new, Hi-tech and export-oriented industries.
• Restructuring the existing industries through participation of reputable foreign companies in order to transfer new technologies and to enhance the non-oil exports of Iran.
• Development of general contracting activities with the participation of the Iranian private sector and credible foreign companies.
• Rendering consultancy and support services to foreign investors.
• Privatization of the existing subsidiaries.

The fifty-year-long history of IDRO has brought about key achievements and honors for the Iranian industries. Its major achievements are listed below:

• Establishing numerous industrial, manufacturing and engineering enterprises to complete the national industrial chain;
• Directing a part of nationalized heavy industries;
• Implementing key projects for national heavy industries;
• Cooperating on implementation of key national projects like construction of oil, gas and petrochemical refineries and power plants;
• Enhancing the capacity of national transportation (road, rail and marine) industries;

Renovating and reconstructing old national industries;

Developing modern technologies;

• Conducting developmental and applied research;
• Forming and developing relationships with universities and research centers;
• Developing nationwide capability for general contracting;
• Managing and implementing industrial megaprojects including South Pars Projects in cooperation with prestigious Iranian and foreign partners;
• Supplying high-tech industrial equipment for key national industries including oil, gas, petrochemical and power plant industries;
• Localizing the know-how for management and implementation of megaproject;
• Privatizing industries and transferring large shares of companies;
• Extending areas of participation in international markets;
• Attracting international cooperation in investment, implementation of industrial projects and technological research;
• Providing support (technical, financial, managerial and marketing) services to industrial and mining businesses;
• Participating in developing policies and strategies for industrial development;
• Reforming the management structure and recruiting competent managers for running companies and industrial projects; and
• Planning and implementing comprehensive development plans for national industrial managers.