IMIDRO invests $11b in mining projects
Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) has 43 big projects in hand worth some $11 billion, said IMIDRO deputy for finance and economic affairs.
Iraj Akbariyeh told IRNA news agency that if the projects for which credit lines are being opened and research is underway are added, the value of the projects will reach $26 billion.
He noted that 16 of the projects are related to steel, 11 copper projects, 10 mining related projects, three are aluminum and three are related to infrastructure.
Akbariyeh said that Hormozgan steel project with a capacity of 1.5 million tons and Hormozal aluminum project with a capacity of 147 thousand tons with an investment of about $2 billion will soon come on stream.
He highlighted IMIDRO's activities in the past year, adding that in steel production in the world in 2007 Iran ranked 20th, and advanced its ranking to 19th in 2008.