$5.5b Worth of New Mining Projects Underway in Iran

EghtesadOnline: The Iranian mining sector is expecting new projects to come on stream by March 2019 with an investment of $5.5 billion.

News ID: ۷۴۵۹۳۲

28 August 2018

According to the Ministry of Industries, Mining and Trade, Iranian Mines and Mining Industries Development and Renovation Organization and Iranian private-owned companies have launched three projects in the mining and mineral industries since March 2018, Mehr News Agency reported. The state-run IMIDRO is the largest mining holding in Iran. The three projects include the iron ore pelletizing plant of Khorasan Steel Complex with a capacity of 2.5 million tons per year, the continuous steel rolling mill of Saba Steel Company and the direct reduced iron production plant of Sabzevar Steel Project. Some 28 projects are to be finalized by the end of March 2019. Somayyeh Kholousi, IMIDRO’s director for planning and strategic monitoring, said these projects will create direct employment for 4,330 people and indirect employment for 43,875 others, according to Financial Tribune.