Domestic production of equipment in Iran's mining sector continues

Business Materials 17 February 2021 13:56 (UTC +04:00)

BAKU, Azerbaijan, Feb. 17

By Elnur Baghishov – Trend:

A total of $917 million worth of equipment is planned to be produced domestically in Iran’s mining sector in the current Iranian year (from March 20, 2020 to March 21, 2021), Head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Vajihollah Jafari said, Trend reports citing the organization’s website.

He made the remark in the opening ceremony of the exhibition on the domestic production of equipment of the National Iranian Steel Company (NISCO).

According to Jafari, about $350 million worth of equipment and spare parts were produced in Iran domestically during the first 10 months of the current Iranian year.

Jafari added that Iran's Mobarakeh Steel Company produced 100,000 units of spare parts and equipment worth $320 million domestically, the Chadormalu Mining and Industrial Company - 29,000 units worth $20 million. In addition, Golgohar Mining and Industrial Company produced $10 million worth of equipment and spare parts domestically.

The official noted that so far, 23,000 types of spare parts and equipment in the steel industry in Iran have been determined for manufacturing.

“A Technological Research Fund has been established in Iran in cooperation with the Presidential Vice-Presidency for Science and Technology, steel producers and companies. The fund was launched with 1 trillion rials (about $23.8 million) and provides financial support for the domestic production of spare parts and equipment,” he said.

Jafari stressed Iran plans to produce 55 million tons of steel annually. For this, there must be a special program for the domestic production of technology, equipment and spare parts.