$4.5b of projects to go on stream by yearend: IMIDRO

October 29, 2019

TEHRAN- Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) will put projects worth $4.5 billion into operation by the end of current Iranian calendar year (March 19, 2020), IRNA reported.

According to the Public Relations Department of IMIDRO, once operational, the projects will play a leading role in development and growth of the country’s mining industry.

The projects include 'Jonoob Aluminum', the largest aluminum ingot production plant in Parsian Special Economic Zone, the inauguration of the first phase of Parsian Port, Ghaenat Direct Reduction (DR) factories in South Khorasan province and Baft in Kerman province along with Jajarm Aluminum Production Plant in North Khorasan province.

Jajarm Aluminum project, with an investment worth $131 million, will produce 40,000 tons of aluminum ingot in the first phase, generating 600 direct and 1,800 indirect jobs, according to IMIDRO.

IMIDRO had previously announced that projects worth nearly $3.5 billion will be put into operation by the end of the current Iranian calendar year.

In late July, IMIDRO’s Deputy and Executive Advisor Abbas Naiemi said new projects going operational by yearend up to 50,000 new job opportunities will be created across the country.

Boosting production, creating jobs, providing infrastructure and making joint venture with the private sector are the main pivots of IMIDRO’s plans.

Given the policies of IMIDRO, planning for stable development of the chain of products, benefiting from the private sector’s capabilities, cooperation with the guilds and associations, reducing the risk of investment, and indigenization of technology will be taken into account once implementing the mentioned projects.

Meanwhile, Gharibpour has recently stressed that his organization has put completing semi-finished projects on its agenda.

The official also said in mid-June, that IMIDRO was planning to establish a consortium in order to accelerate exploration projects in the mining sector.

He said, “The consortium is going to help us in areas like exploration and identification of new mines and minerals”.

According to the IMIDRO head, based on the mining potentials and research and academic capabilities of the country’s provinces, 10 mining regions have been defined in order to manage projects and also utilize the country’s academic potentials in this industry.

EF/

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