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China to Invest in Semnan Mining Sector

China to Invest in Semnan Mining SectorChina to Invest in Semnan Mining Sector

A Chinese financing company has agreed to invest in Semnan Province’s mining sector, Mehr News Agency quoted the head of Industries, Mining and Trade Organization of the northern province, Behrouz Asvadi, as saying.

He said Beijing Huafu Engineering Company has agreed to invest in setting up processing facilities to minimize sales and export of unprocessed minerals.

According to the official, Semnan is the biggest producer of raw material for cement in the country and has the third biggest coal and coke reserves in Iran.

Asvadi added that considering the huge reserves of lime in Semnan, foreign investors can be attracted for production of sodium sulfate, which is among the main raw materials used to produce glass.

Beijing Huafu Engineering Company has so far successfully implemented two major petrochemical projects in the country worth €52 billion.

Financialtribune.com