Iran increases investments in mines

Business Materials 19 July 2011 15:12 (UTC +04:00)

Azerbaijan, Baku, July 19 /Trend/

Iran has increased investments in mine infrastructure to $3.3 billion during the Fifth Development Plan (2010-2015), IRNA reported quoting Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) Chairman Mohamad Masoud Samienejad as saying.

"A major part of the investments, around $254 million, would focus on building new power plants to feed the mines and mineral industries," he said.

The plan to install infrastructure in the country's mines includes developing infrastructure in big mines, creating special energy zones, and developing mineral and metal industries in the Persian Gulf with a 4,500 megawatt production capacity, he added.

The government will invest $270 million to install special energy zones in southern coasts.

The development of special mineral and metal industries in the Persian Gulf will attract $251 million in investments, while $270 million will be invested in developing a platform in a special zone in the Persian Gulf.