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Iran produced 350,000 tons of aluminum ingots  over the past fiscal year (March 2015-16).
Iran produced 350,000 tons of aluminum ingots  over the past fiscal year (March 2015-16).

Need for Foreign Investment in Aluminum Sector

Need for Foreign Investment in Aluminum Sector

Iran’s aluminum sector, despite its great potential for growth, has not been able to attract foreign investment ever since the lifting of sanctions, says the head of Iranian Syndicate of Aluminum Industries.
“Although a number of foreign business delegations and companies have paid visits to Iran to explore investment opportunities in the domestic aluminum industry, none of them has reached any agreement mostly due to obstacles impeding banking relations in addition to inhospitable business regulations,” Houshang Goudarzi was quoted as saying by ISNA.
Sanctions against Iran were rolled back in January this year as part of the nuclear deal the country signed with world powers last year. In exchange, Tehran agreed to limit the scope of its nuclear program.
Iran’s access to international waters for exports, besides abundant and cheap energy resources, provides the country with unique opportunity to advance its aluminum industry.  
According to Goudarzi, energy procurement accounts for 25-30% of aluminum ingot production costs.
In the meantime, Persian Gulf littoral states, most of which lack Iran’s competitive production advantages, have boosted their aluminum production capacities up to 5 million tons per year by attracting huge sums of foreign investments.
According to the industry official, the 20-Year Vision Plan (2005-25) stipulates that the domestic aluminum production capacity reach 1.5 million tons by the end of 2025, which is about 70% less than what Iran’s southern neighbors are already churning out.
Iran produced 350,000 tons of aluminum ingots over the past fiscal year (March 2015-16). About $214 million worth of aluminum products were exported during the same period, while imports stood at $344 million.

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