Iran's Foolad Gostar Kosar Co. and Turkey's Rana Steel Co. inked a €220 million ($345.62 million) deal on a joint venture for the establishment of steel mills in the two countries. (€1 = $1.571).
Both sides will finance the projects in equal share. The mills will create direct job opportunities for some 2,000 people in each country, a Tehran Times report said.
Fars News Agency, Iran, April 8, 2008