Industry Conglomerate Revenue US$ 17 billion (2009) Founded 1967, Iran | Area served Worldwide Founder Mohammad Reza Pahlavi Headquarters Tehran | |
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Type Government-owned corporation Key people Mohammadreza Nematzadeh (Minister of Industry)
Gholamreza Shafeei (President)
Mansour Mo'azzami (Chairman of IDRO Group) Products Automobiles, Vehicles, Engines, Oil, Gas, Energy, Machinery, Agriculture, Mines, Metals, Research, Training, Aviation, Banking, Trade, Health care, Railway, Management, Technology, Investment Motto "Pioneer in globalization of Iran industries" Subsidiaries Iranian Offshore Engineering and Construction Company | ||
The Industrial Development & Renovation Organization of Iran (IDRO) known as IDRO Group was established in 1967 in Iran. IDRO Group is one of the largest companies in Iran. It is also one of the largest conglomerates in Asia. 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.
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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 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 of Iran:
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):