Economic Council Approves Import of Equipment for Heavy Tire Production

The Economic Council approved the Ministry of Industry, Mining and Trade's request to import foreign goods and services for a project to produce heavy and extra-heavy tires.

The Economic Council agreed with the request of the Ministry of Security to import foreign goods and services for the implementation of the production plan of all types of heavy and extra heavy tires.

According to Mehr reporter, quoting from the country's program and budget organization, the Economic Council in a resolution agreed to the request of the Ministry of Industry, Mines and Trade to issue a license to purchase and import foreign goods and services for the implementation of the "production of heavy and extra heavy tires" plan.

According to this notification, the necessary permits have been issued with reference to clauses "A" and "B" of Article 5 "Law on Maximum Use of Production and Service Capacity of the Country and Protection of Iranian Goods".

According to this resolution, the supply of goods and services needed by the project is considered to be at least 29% (equivalent to 28 million 652 thousand 978 euros) from within the country. It should be noted that a part of this internal share, equivalent to 5% of the total project amount (4 million 695 thousand 765 euros), is reserved for the purchase of raw materials, components, parts and equipment from abroad, which will be done only by competent domestic manufacturers. It has also been agreed with a maximum of 71% (equivalent to 71 million 190 thousand 847 euros) of purchasing from abroad for this project.

The implementation of this resolution is subject to full compliance with environmental requirements, passive defense considerations and obtaining relevant permits. Also, the Ministry of Industry, Mining and Trade is obliged to send the performance report of this decree to the country's program and budget organization every six months.