Industrial Development and Renovation Organization of Iran (IDRO) and Turbine Machine Middle East Company signed a memorandum of Understanding on cooperation to boost the policy of supporting the domestic production.

The agreement was signed by the head of advanced industries department of IDRO Mr. Hamid Bazargan and the and the CEO of Turbine Machine Company Mr. Hassan Halali.

According to the reports, both sides reached agreement for manufacturing compressors which are used in oil and gas industry.

After signing the agreement, Bazargan said that the agreement is aimed at boosting domestic production and buying the necessary parts and equipment from the Local companies. He added that the agreement will help compressors to be indigenized.

Meanwhile the contractor of some phases of South Pars projects Mr. Mohammad Reza Raafat said that the projects need gas compressors and one of the goals for establishing the company is to manufacture the gas compressors for the projects. He went on to say that the projects will need compressors for ten years which will worth $ 10 b.

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