Italy offers to engage in Iran’s steel, aluminum industry

TEHRAN, Nov. 04 (MNA) – Prior to the Italian president’s visit to Iran, two large Italian companies have proposed a 4-billion-euro offer to participate in Iran’s steel and aluminum industry.

At a meeting with Iran’s deputy minister of industry, mines and trade, CEO’s of two giant Italian companies in the fields of steel and aluminum made a proposal worth 4-billione-euroes to participate in Iranian steel and aluminum projects in line with expansion of economic relations between the two countries.

Italy’s Danieli and Fata companies have carried out several projects in Iran in the fields of design, supply, procurement, implementation and financing of steel and aluminum projects over the past 25 years.

These foreign companies are currently seeking to invest in mining projects as a result of the recent achievements of the Islamic Republic of Iran in the international arena leading to creations of new grounds for development of economic relations with the world’s countries.

With the finalization of the agreement, the two sides will establish a joint venture to implement two projects to produce 6.5 million tons of iron ore as well as 3 million tons of sponge iron in Iran.

The Italian side will make 60 per cent of the joint investment while the share of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) will be 40 per cent.

 

HA/2957929

 

News Code 111652

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