TEHRAN, April 07. /ITAR-TASS/. Economic ties between Iran and Russia are developing successfully, Iranian Deputy Minister of Industry and Trade Mehdi Karbasian told the IRNA news agency on Monday, April 7.

“There are good potentials for boosting cooperation between Tehran and Moscow,” he said.

As an example of growing bilateral ties, Mehdi mentioned the signing of a new contract between Iranian Industries Development and Renovation Organisation and Russian oil and gas construction company Stroytransgaz.

Under the contract, Stroytransgaz will provide engineering, procurement and construction services to produce alumina from nepheline syenite in a mine at Sarab, East Azarbaijan province, IRNA said.

The facility will be commissioned in 3-4 years.