Value of new projects in Iran's mining and industrial sector announced
BAKU, Azerbaijan, March 29
By Elnur Baghishov - Trend
New projects worth more than $2.3 billion will be implemented in the mining and industrial sector of Iran in the current Iranian year (began March 20, 2020), said Khudadad Qaribpur, chairman of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Trend reports citing the official website of IMIDRO.
According to Qaribpur, commissioning of unfinished projects, sustainable supply of raw materials, and simplification of exports are among the plans for the current year.
Qaribpur added that projects worth $1.2 billion were commissioned last year (from March 21, 2019 to March 20, 2020). About 19 projects worth more than $2 billion were commissioned in the mining and industrial sector in the preceding (from March 21, 2018 to March 21, 2019)
The official said that 66,000 square kilometers of mines were transferred to the private sector last year. In addition, 759 sites were found to contain minerals, and these places have been assigned to the industrial, mining and trade organizations of the provinces.
"As many as 150 trillion rials (about $3.57 billion) of the company revenue was used to increase the production," Qaribpur said.
The official added that more than 160 trillion rials (about $3.8 billion) of the 340 trillion rials (over $8 billion) of exchange companies' revenues belong to the mining and industrial sector.