Iran is planning to invest $500 million in the construction of a new cement plant in Tajikistan. Ali Asghar Sherdoust, Iranian Ambassador to Tajikistan, said that a one million tonne per annum capacity plant will be constructed in Nosir Khusrav district, Khatlon province. It will be constructed by Lian Kavan Kaniha Company and is scheduled for completion in one- and-a-half years. The two countries have recently increased their cooperation. In a recent meeting between Tajik President Emomali Rahmon and Iranian President Mahmoud Ahmadinejad at the 11th Summit of the Economic Cooperation Organization (ECO), Rahmon confirmed his country’s intentions to strengthen ties with Iran. He said: "Developing cooperation among the Persian speaking nations is beneficial to these states and also the entire region".