Industrial Development and Renovation Organization of Iran (IDRO) was established in 1967 to develop the industry sector and to accelerate the industrialization process of the country.
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.