BAKU, Azerbaijan, Apr. 20
By Elnur Baghishov – Trend:
The companies, which are subsidiaries of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) saved $618 million in the last Iranian year (from March 20, 2020, through March 20, 2021), Advisor to the chairman of IMIDRO, Hassan Younesian said, Trend reports citing the organization.
Younesian noted that these funds were saved as a result of domestic production of equipment and spare parts in the mining industry and the use of local potential in ongoing plans.
The advisor added that IMIDRO's subsidiaries were expected to save about $917 million in the last Iranian year. Its $509 million would be saved via domestic production of equipment and spare parts, and $491 million would be saved by using local potential in ongoing plans.
“The amount of savings by use of local potentials in the ongoing plans is not fully calculated. This figure is projected to exceed $900 million,” he said.
Reportedly, the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) and its subsidiaries will implement plans worth $16.3 billion over the next 5 years (from March 20, 2020, to March 21, 2025).
It is estimated that Iran will implement certain plans in the area of steel, copper, aluminum, gold, and other major mining industries and put into operation the facilities based on plans.