TEHRAN – The managing director of the Iran Carpet Company here on Saturday announced that the Iranian Privatization Organization will privatize the company through a bid process.

IRNA quoted Jalaleddin Bassam saying that “the company is in a good shape now and will be sold via bid whenever the IPO announces.”
The company’s debt in last years reached 104 billion rials (some $11.2 million) which has been reduced to 60 billion rials (some $6.5 million) at present