Neek Gostar Co., also known as Neek Valve Group, was officially launched on Monday in a ceremony held in the presence of Minister of Industry, Mines and Trade Mohamad Reza Nematzadeh.
The project was financed by €4m and IRR190b in 5,000 square meters of land and its exports to the regional markets are expected to cross €20m in value after two years of operation.
The industrial group enjoys the partnership of GIVA Group with 35% of the company's stocks and Golden Group with 46% of its stocks.
Neek Gostar is the first project by the Industrial Development & Renovation Organization of Iran known as IDRO with 19% of the company's stocks.
The company will produce smart and control valves with wide usage in oil, gas and petrochemical industries.
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.[1]
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