Mining sector in Iran needs €19b investment

August 7, 2021 - 14:26

TEHRAN –Official statistics indicate that $19 billion of investment is required for the realization of the development plans set for the country’s mining sector for the horizon of the Iranian calendar year 1404 (starts in March 2025).

As IRNA reported, based on the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) data, over 68 percent of the mentioned investment is related to the steel chain.

The mentioned resources are required for providing infrastructure for the country’s mines and mining industries, including water, roads, railways, and electricity.

Sustainable water supply for mines and mining industries is one of the basic measures that is being led by IMIDRO in collaboration with large companies and major banks.

In this regard, the first phase of Iran’s major water desalination and transfer project which is aimed at supplying Persian Gulf water to central Iran through pipelines was put into operation in the previous Iranian calendar year (ended on March 20).

Some 163 trillion rials (about $3.88 billion) has been invested in the mentioned project which is being implemented by the Energy Ministry in collaboration with the Industry, Mining, and Trade Ministry.

Three of the country’s major mining industry firms namely, Golgohar Company, National Iranian Copper Industries Company, and Chadormalu Industries were the main investors of the project.

This year too, the plan for providing the required road and electricity infrastructure for 56 mines is going to be implemented by IMIDRO in collaboration with the energy and Industry ministries.

Signing a memorandum of understanding (MOU) with the Transport Ministry for the construction of the 778-kilometers (km) Bafgh-Sangan railway with an investment of 81 trillion rials (about $1.9 billion), the construction of a road in Sangan district with an investment of eight trillion rials (about $190 million), and the signing of an MOU for the construction of Lamerd-Parsian highway with an investment of 10 trillion rials (about $238 million) are among IMIDRO's development goals for the current year.

EF/MA

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