Iran's NICICO plans to double revenues

Business Materials 23 February 2021 14:35 (UTC +04:00)
Iran's NICICO plans to double revenues

BAKU, Azerbaijan, Feb. 23

By Elnur Baghishov – Trend:

The revenues of the National Iranian Copper Industries Company (NICICO) will double in the next 5 years (until March 21, 2026), Deputy Minister of Industry, Mine and Trade of Iran and the Managing Director of the company, Ardashir Sad Mohammadi said, Trend reports referring to the company’s website.

Sad Mohammadi noted that the company's revenue is estimated to be increased from $2 billion to $4.5 billion over the mentioned period.

The director added that in this regard, 29 projects worth 2.48 billion euros and 300 trillion rials (about $7.14 billion) are currently being implemented in Iran.

"The NICICO will be among the top 10 companies in the world on the copper production with the implementation of these projects," he said.

The deputy minister emphasized that two plants will be put into operation in the Kerman Province (southeastern Iran) in the next Iranian year (March 21, 2021, through March 20, 2022). These plants will produce 400,000 tons of copper concentrate a year. Its cost is $800 million.