Iranian company to produce safflower oil in northern Kazakhstan


ASTANA (TCA) — A company from Iran is going to grow safflower (an oil-bearing crop) in Kazakhstan’s Kostanai province and build a plant for its processing, said the province’s Governor Arkhimed Mukhambetov, Novosti-Kazakhstan news agency reported.   

“Last week our province’s delegation participated in the Kazakhstan-Iran business forum in Tehran. The Kostanai province administration and Kaz-ir-Agro company signed a memorandum of cooperation according to which the Iranian company will grow safflower in two districts of the province and plans to build a plant to produce safflower oil in Zhitikar,” the governor said.       

Investments in the project will amount to $5 million.

The Kostanai administration also agreed with Iranian companies on growing and processing of oil-bearing crops and grain.   

The Kazakhstan-Iran business forum held in Tehran on February 7 and 8 also included the first meeting of the Kazakhstan-Iran Business Council. The meeting resulted in the signing of the first Kazakh-Iranian contract after the lifting of international sanctions on Iran — on the delivery of Kazakh meat products to Iran.
During the forum, Kazakhstan and Iran discussed establishing a joint investment fund, Iranian investments in Kazakhstan’s mining industry, delivery of Kazakhstan-made locomotives to Iran, and Iran’s plans to invest in Kazakhstan’s chemical and petrochemical industries.

Iran is poised to become a logistics base for delivery of goods from Kazakhstan, Central Asia, and China to the markets of Africa, Pakistan, and India through the Persian Gulf.

Sergey Kwan