Baku, Azerbaijan, Oct. 12
By Fatih Karimov - Trend:
Three countries have prepared investment packages for Iran's mining projects.
Mehdi Karbasian, Iranian deputy industry minister, said France, Russia, and China have prepared packages of investment for financing developmental projects in the field of mining and mineral industries, Mehr news agency reported Oct. 12.
Karbasian, who is also head of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), added that Italy has announced readiness to invest in Iran's steel projects.
Meanwhile, Chinese companies have come to the conclusion that they should invest directly in the Iranian market, he added.
"The Management and Planning Organization has said that 2,000 billion rials (about $60 million) in subsidy will be allocated to the production sector. We are planning to use the sum partly to develop mines and implement exploration projects," he said.
Karbasian said in September that some 70 mining projects were implemented in the country in 2014. Some $26 billion will be invested in mining projects by 2020, he added.
He said that Iran boasts rich mines. "The country enjoys good infrastructures, such as railways, free zones, high security, as well as low price sources of energy."
Iran ranks among 10 top countries in the world in terms of mineral resources with mineral reserves amounting to 60 billion tons.
Edited by CN