Iran to open $5.5-bn projects in mining by March 2019

TEHRAN, Aug. 27 (MNA) – Iranian mining sector is expecting new projects to be completed by the end of March 2019 with an investment tally of $5.5 billion.

According to what Iranian ministry of industry, mine and trade has announced since March 2018 IMIDRO (Iranian Mines and Mining Industries Development and Renovation Organization) and Iranian private-owned companies have opened three projects in the mining and mineral industries sector.

The finalized projects include the Iron ore pelletizing plant of Khorasan Steel Complex with a capacity of 2.5 million tons, the development of the steelmaking plant and continuous steel rolling mill of the Saba Steel Co. and the direct reduced iron (DRI) production plant of Sabzevar Steel.

According to the same source, there are another 28 projects to be finalized and tapped by the end of March 2019.

Somayyeh Kholousi, the IMIDRO’s Managing Director for Planning and Strategic Monitoring has said to the media that these projects will directly employ 4330 people and indirect employment will be created for 43,875 people.

“IMIDRO tapped a total of 27 projects in the year of 1396, with investing $2.97 billion. The Iranian calendar year of 1396 spanned from March 21, 2017 to March 21, 2018. “Tapping these projects led to direct employment for 4350 and indirect employment for 11, 950 people,” she added.


News Code 137166


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