Iran invites foreign firms to invest in industrial, mineral projects
Azerbaijan, Baku, Oct. 26/ Trend R.Zamanov
Deputy Minister of Industry, Mine, and Trade Mehdi Karbasian has invited foreign investors to take part in Iran's mineral and industrial projects.
"Currently the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) is carrying out some $7 billion worth of projects in the country," the IRNA News Agency quoted Karbasian as saying.
"The industries and mining sector is Iran's most important sector alongside with the oil industry," he added.
"Absorbing investment in the industries and mining sector is among the country's high priorities," he said.
Deputy Head of Iran's Geology and Mineral Exploration Organization Behrouz Borna said in August 2012 that Iran holds three per cent of the world's mineral reserves, which puts the country first in the Middle East and third in Asia.
Iran is ranked among the 15 major mineral-rich countries of the world and exports its industrial and mineral products to 159 countries, including Iraq, China, the United Arab Emirates, India and Afghanistan.
The important mines of Iran include coal, metallic minerals, sand and gravel, chemical minerals and salt. Iran has the world's largest zinc and second largest copper deposits and ranks ninth for its iron reserves.