9045
Aluminum Factory Under Construction
Economy, Business And Markets

Aluminum Factory Under Construction

The construction of an aluminum factory has officially started in the southwestern city of Masjed Soleyman, in a ceremony attended by local officials including the governor of Khuzestan province, IRNA reported on Wednesday.
The Kaveh Aluminum Company is expected to produce 175,000 metric tons of aluminum per annum and has been given a 140-million-dollar loan by the Export Development Bank of Iran. The project is a joint venture by Iran’s Islamic Revolution Mostaz’afan Foundation and China.
The company is expected to create direct jobs for 200 people during the construction phase and indirectly employ as many as 600 people.
According to the ministry of industry, mine, and trade; Iran has managed to overtake France to become the 19th producer of the metal in the world. According to projections made by the United States Geological Survey (USGS), Iran could improve its rank to become world’s 18th if it completes the development projects in the aluminum sector across the country.
Based on the 2025 Vision Plan, Iran should annually produce 1.5 million metric tons of aluminum, while the current production barely hits 400,000 metric tons per year.

Short URL : http://goo.gl/hKp59O

You can also read ...

Bosch, Valeo Entering Iran Auto Parts Market
Ezam Automotive Parts Group is set to produce automobile parts...
Iran should not view Afghanistan only as a consumer market, if the two countries’ economic ties are to be strengthened.
A review of trade between Iran and Afghanistan over the past...
Geely Introduces 'Volvo Sibling' in Iran FTZs
Geelran Motor, an importer of China’s Geely vehicles in Iran,...
Iranian Exports to Nigeria Up 69%
Iran exported close to $3 million worth of goods to Nigeria...
Banking hurdles are slowing MAN’s return to Iran.
MAN Diesel & Turbo, a German multinational that produces...
Car Show Opens in Kermanshah
Kermanshah, a city in western Iran, is hosting the eighth...
Qeshm Cement Company to Start Exports to Mozambique
Qeshm Cement Company has readied its first consignment of...
200,000 Marriage Loans in 24 Days
A total of 11 agent banks have allocated 200,000 marriage...

Trending

Googleplus