Economic Official: Cooperative Sector to Flourish Persian Gulf's Abu Musa Island
Big Iranian cooperative companies plan to invest in Abu Musa to turn the Persian Gulf's precious Island into an eye-catching economic hub, said an economic official.
Secretary General of Iran's Central Chamber of Cooperatives Dariush Pakbin made the remarks on the margins of the 12th Tehran International Construction Fair (Confair 2012) on Sunday.
Pakbin said that Abu Musa Public Cooperative Company will be formed in the near future and added that the necessary permissions for establishing Abu Musa Company have been obtained from Tehran Stock Exchange Company and the Ministry of Cooperatives.
"A total of 51 percent of Abu Musa Public Cooperative Company belongs to big Iranian cooperatives such as Marine Industries Cooperative, Border Residents Cooperative Company and Iran Khodro Company, while the remaining 49 percent will be presented in the stock exchange market," he said.
"The last session of the Assembly of the founding members of Abu Musa Public Cooperative Company will convene this week and the stocks of the company will start as of next month," he added.