Economy, Domestic Economy

Industrial Investment

Industrial InvestmentIndustrial Investment

The Iranian industrial and mining sector is awaiting foreign investors with $9 billion of investment opportunities, the deputy of industry, mine, and trade said in the 18th Middle East Iron and Steel Conference held in Dubai. According to the website of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), Mehdi Karbasian presented the conference with detailed reports on domestic industrial and mining projects. He said that Iran plans to increase its capacity of iron ore concentrate production from the current rate of 24 million tons a year to 66 million tons. He added that pellet production is also expected to rise from 21 million to 82 million tons and crude steel from 16 million to 52 million tons by 2025. “Upon completion of current steel projects, Iran will become a major direct reduced iron (DRI) producer in the world.”