China funds aluminum plant in Iran
Baku, Azerbaijan, Nov. 9
By Khalid Kazimov- Trend:
China has invested in a project to construct an aluminum plant in the Iranian city of Lamard.
The project received funding over the past week, and the Iranian and Chinese teams will begin construction within the next 20 days, the head of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Mehdi Karbasian, told Fars news agency on Nov 9.
He added that China had allocated some EUR1.8 billion for seven steel projects in Iran.
The Iranian administration plans to produce 18 million tons of crude steel by the end of the current fiscal year (March 2016).
More than 8.202 million tons of crude steel were produced in Iran during the first half of the current Iranian fiscal year (March 21-Sept. 22), 1.8 percent less year-on-year.
Iranian companies also produced 8.177 million tons of steel products during the six-month period.
The figure indicates a fall by 7.5 percent compared to the same period last year.
More than 16.805 million tons of crude steel were produced in Iran during the last Iranian fiscal year (ended on March 20), 7.4 percent more than the preceding year.