Chinese firm ready to establish aluminum plant in Iran

Business Materials 10 November 2013 12:30 (UTC +04:00)

Baku, Azerbaijan, Nov. 10

By Fatih Karimov - Trend: A Chinese company has announced readiness to establish an aluminum plant in Iran, ISNA reported.

China's NFC has said that it is ready to establish Jonoub Aluminum Plant in Iran's central Fars province. The plant is projected to produce 276,000 tons of aluminum per year.

The project had launched seven years ago, but it has been shelved due to budget deficit.

The Chinese company has so far invested some $4 billion in Iran's industry sector.

Iran's aluminum ingot production has increased by 6 per cent in the first seven months of the current Iranian calendar year, which began on March 21, compared to the same period in the past year, the Mehr News Agency reported.

Some 206,908 tons of aluminum ingots were produced in the 7-month period. Production stood at 195,774 tons last year.

Some 29,600 tons of aluminum ingots were produced in the sixth calendar month (August 22 - September 22).

It was previously announced that Iran plans to increase its annual aluminum ingot production capacity up to 910,000 tons by the end of the Fifth Five-Year Economic Development Plan (March 2016).