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China signs MoU worth $2B to enhance Iranian aluminum plant

Business Materials 4 May 2016 15:55 (UTC +04:00)

Tehran, Iran, May 4

By Mehdi Sepahvand - Trend:

China has signed an MoU to invest $2 billion in the development of Iranian aluminum factory IRALCO.

The Chinese consortium CREC's International Relations Director Hu Hai met with IRALCO CEO Majid Pour Attar in Tehran today to sign the MoU, IRNA news agency reported May 4.

IRALCO is Iran's biggest aluminum ingot producer. It was founded in 1973 in the suburbs of the central Iranian city of Arak with an annual output of 45,000 tons. The premises of the factory cover an area of 232 hectares.

The contract signed today includes boosting the factory's output to 350 thousand tons per year, launching a plant for the production of 100 thousand tons of anode per year, and building a 500-megawatt power plant.

It also includes establishing related downstream industrial units in the same area as the main factory.

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