BAKU, Azerbaijan, Dec. 28
By Elnur Baghishov – Trend:
Iran's Opal Parsian Sangan Industrial and Mining Company have signed a contract on the construction of the second plant for the production of iron ore concentrate, Head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Vajihollah Jafari said, Trend reports citing the organization’s website.
The chairman said that according to the contract, the plant will be built in 29 months and 145 million euros will be spent on the construction of the plant.
Jafari added that the company's plant can produce 2.4 million tons of iron ore concentrate annually.
“About 80 percent of the work on the design of the second plant has been completed. Therefore, the plant is expected to be launched sooner than planned,” he noted.
The contract was signed between the Head of IMIDRO Vajihollah Jafari and Executive Director of Parsian Financial Group Masoud Samieinejad. The plant will be built with the investment of Parsian Financial Group (60 percent) and the IMIDRO (40 percent).
The first plant of Opal Parsian Sangan Industrial and Mining Company was launched in 2013 by IMIDRO. The plant can produce 2.6 million tons of iron ore concentrate per year. The company was assigned to Parsian Financial Group after two years.