Indigenising technology saves Iran $750 million over five years

Iran Materials 14 September 2012 13:01 (UTC +04:00)

Azerbaijan, Baku, Sep.14/ Trend F.Milad/

Implementing indigenised technology projects by the Iranian Mines and Mining Industries Development and Renovation Organisation has saved some $750 million during the past five years, the IRIB quoted the IMIDRO chairman as saying.

Fereydoun Ahmai added that the projects were related to the steel, copper and aluminium industries.

During the past two years, 228 projects have been implemented in the steel industry, he said, adding that 5512 jobs have also been created.

On August 21, Ahmadi said seven projects in the field of mining and mineral industries are ready to be launched in Iran.

The projects are related to a power plant, coke production, iron ore extraction, leaching and sponge iron production sectors, he noted.

Some 6.75 trillion rials (around $550 million) has been invested in the projects, he noted.

Deputy Head of Iran's Geology and Mineral Exploration Organisation Behrouz Borna said the country ranks first in the Middle East for possessing the region's largest mineral reserves.

"Iran holds three per cent of the world's mineral reserves putting it in first place in the Middle East and third in Asia," Borna added, Press TV reported.

Iran is ranked among the 15 major mineral rich countries of the world and exports its industrial and mineral products to 159 countries, including Iraq, China, the United Arab Emirates, India and Afghanistan.