IDRO Group

Company type	Government-owned corporation
Industry	Conglomerate
Founded	1967; 59 years ago (1967)[1]
Founder	Mohammad Reza Pahlavi
Headquarters	Tehran, Iran
Area served	Worldwide
Key people	Mohammad Atabak (Minister of Industry, Mine and Trade) Farshad Moghimi (Chairman of the board of directors)
Products	Automobiles, Vehicles, Engines, Oil, Gas, Energy, Machinery, Agriculture, Mines, Metals, Research, Training, Aviation, Banking, Trade, Health care, Railway, Management, Technology, Investment
Revenue	US$ 17 billion (2009)[2]
Net income	US$ 1.486 billion (2009)[1]
Total assets	US$ 45.766 billion (2009)[1]
Website	www.idro.org

The Industrial Development & Renovation Organization of Iran (IDRO) known as IDRO Group was established in 1967 in Iran.^[3] 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.^[3] Today, IDRO owns 117 subsidiaries and affiliated companies both domestically as well as internationally.^[1]

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:

• Promotion of local and foreign investments 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.
• Privatization of the existing subsidiaries.
• Industrial Investment
• Management Development
• Automotive Industry
• Industrial Equipment Machinery
• Marine Industry
• Railway Industry
• Hi-Tech Industries Development
• General Contracting
• Health care
• Banking

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.^{[citation needed]}

See also

• Economy of Iran
• IMIDRO
• Industry of Iran
• International rankings of Iran
• Iranian automobile industry
• Iranian railway industry
• List of Iranian companies
• National Iranian Oil Company
• National Iranian Petrochemical Company
• Privatization in Iran
• Science and technology in Iran
• Geological Survey and Mineral Exploration of Iran

References

External links

• IDRO's official website
• IDRO annual report (2008/09)
• IDRO annual report (2003)^{[permanent dead link]}