Iran discloses amount of investments made in Sengan Iron Ore Complex

Business Materials 13 January 2019 13:52 (UTC +04:00)

Baku, Azerbaijan, Jan. 13

By Elnur Baghishov – Trend:

The number of plants of Iran's Sengan Iron Ore Complex will increase from one to five through the investments worth 100 trillion rials (about $2.3 billion), head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) Executive Board Khudadad Garibpour said.

The production will be increased as a result of an increase in the number of plants, Garibpour added, Trend reports referring to Fars News Agency.

As for the investments made by Parsian and National Banks, Mobarakeh Steel Company, Khorasan Steel Complex Company and Khouzestan Steel Company, he said that 5,000 jobs were created in Sengan village through these investments.

All companies that invest in Sengan are reliable companies. Moreover, investments worth 100 trillion rials will be made in Sengan. Thus, 17.5 million tons of concentrate and 15 million tons of pellets will be produced, Garibpour said.

The Sengan Development Committee will be established at IMIDRO, he said.

In the first half of the next Iranian year (to start on March 21, 2019), the pellet plants of the National Development Industry and Mining Company will be put into operation, Garibpour said.