TEHRAN- The Iranian Mines and Mining Industries Development and Renovation Organization, known as IMIDRO, signed three aluminum deals with the Chinese Sinosteel Corporation.

Based on the deals, Sinosteel will finance construction of two plants for the production of alumina powder and aluminum bar and also a power plant to supply the electricity required by these two plants, according to the official website of the IMIDRO.

After signing the mentioned deals with IMIDRO Chairman Mehdi Karbasian, Sinosteel’s director declared the willingness of his company and also his country for the expansion of ties with Iran in the post-sanctions time and said, “We used to cooperate with some large Iranian steel producing companies in the past and now we are boosting our relations with Iran.”

Karbasian, for his part, welcomed Sinosteel’s investment in Iran and called for implementation of these projects based on the world’s modern technology and also environmental standards.

Sinosteel Corporation is a central state owned enterprise, primarily in mining, trading, equipment manufacturing and engineering, under the supervision of the State-owned Assets Supervision and Administration Commission.

MA/