Turkish holding seeks to invest in Iran’s ferrochrome mines

Business Materials 5 June 2015 15:05 (UTC +04:00)

Baku, Azerbaijan, June 5

By Fatih Karimov - Trend: Turkey's Yildirim Holding is interested in investing in Iran's ferrochrome mines, said the holding's Chief Executive Officer Yuksel Yildirim.

He said that building ferrochrome production plants in Iran could be a good start for bilateral cooperation with the country, Iran's Fars news agency reported June 5.

He made the remarks in a meeting with Managing Director of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Mehdi Karbasian, in Tehran.

At present, a ferrochrome production plant in the northeastern city of Sabzevar is the only ferrochrome production unit in Iran.

"We are ready to conclude 10-year contracts with Iran," Yildirim said.

The Turkish company is also interested in cooperation in the fields of potash and phosphate, fertilizers, and mining machinery, he added.

Karbasian, for his part, said that IMIDRO welcomes Turkish investment in Iran's coal mines, as well.

Iran needs $15 billion in investment to develop its mineral sector and increase production capacity of steel, aluminum, and copper industries.

On May 13, Karbasian said more than 200 mineral projects ready for investment will be presented during the summit.

"The most important topic to be discussed at the conference is the mineral sector and its role in creating new jobs and helping development of the country," he added.