The Industrial Development & Renovation Organization of Iran (IDRO) known as IDRO Group was established in 1967 in

Iran Iran, officially the Islamic Republic of Iran, and also called Persia, is a country located in Western Asia. It is bordered by Iraq and Turkey to the west, by Azerbaijan and Armenia to the northwest, by the Caspian Sea and Turkmeni ...

. IDRO Group is one of the largest companies in

. It is also one of the largest conglomerates in

Asia Asia (, ) is one of the world's most notable geographical regions, which is either considered a continent in its own right or a subcontinent of Eurasia, which shares the continental landmass of Afro-Eurasia with Africa. Asia covers an are ...

. IDRO's objective is to develop Iran's industry sector and to accelerate the industrialization process of the country and to export Iranian products worldwide. Today, IDRO owns 117 subsidiaries and affiliated companies both domestically as well as internationally.

Businesses

In the course of its 40 years of activity, IDRO has gradually become a major shareholder of some key industries in Iran. In recent years and in accordance with the country's

privatization Privatization (also privatisation in British English) can mean several different things, most commonly referring to moving something from the public sector into the private sector. It is also sometimes used as a synonym for deregulation when ...

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 Industrialisation ( alternatively spelled industrialization) is the period of social and economic change that transforms a human group from an agrarian society into an industrial society. This involves an extensive re-organisation of an econom ...

of Iran: *Promotion of local and

foreign investments A foreign direct investment (FDI) is an investment in the form of a controlling ownership in a business in one country by an entity based in another country. It is thus distinguished from a foreign portfolio investment by a notion of direct co ...

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 Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort. In finance, the purpose of investing is ...

. * Privatization of the existing subsidiaries. * Industrial Investment *Management Development *

Automotive Industry The automotive industry comprises a wide range of companies and organizations involved in the design, development, manufacturing, marketing, and selling of motor vehicles. It is one of the world's largest industries by revenue (from 16 % ...

*Industrial Equipment Machinery *

Marine Industry Maritime transport (or ocean transport) and hydraulic effluvial transport, or more generally waterborne transport, is the transport of people ( passengers) or goods (cargo) via waterways. Freight transport by sea has been widely used throu ...

Railway Industry Rail transport (also known as train transport) is a means of transport that transfers passengers and goods on wheeled vehicles running on rails, which are incorporated in tracks. In contrast to road transport, where the vehicles run on a prep ...

* Hi-Tech Industries Development * General Contracting *

Health care Health care or healthcare is the improvement of health via the prevention, diagnosis, treatment, amelioration or cure of disease, illness, injury, and other physical and mental impairments in people. Health care is delivered by health pr ...

Banking A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets. Because ...

Privatization

IDRO had privatized 140 of its companies worth about 2,000 billion rials ($200 million) in the past. The organization will offer shares of 150 industrial units to private investors by March 2010. In 2009, 290 companies were under the control of the IDRO.

Subsidiaries

This is a list of IDRO's main subsidiaries (as of 2008):

References

External links

IDRO's official website

IDRO annual report (2008/09)

IDRO annual report (2003)
{{authority control Government-owned companies of Iran

Companies A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared go ...

Economy of Iran Industrial development agencies Conglomerate companies of Iran Life sciences industry Manufacturing companies based in Tehran Ministry of Industry, Mine and Trade (Iran) Iranian entities subject to the U.S. Department of the Treasury sanctions

Businesses

Privatization

Subsidiaries

See also

References

External links