Metal investment funds’s formation with a financing approach is currently being planned. He also named the development of foreign relations, increasing explorations with private sector participation, and investment in high-tech sectors as other developmental programs of this organization.
Aghajanlou: Plan to establish a “Metals Investment Fund” with a financing approach / Iran to build a Direct Reduction Unit in Kazakhstan
According to IMIDRO’s public relations, Mohammad Aghajanlou stated today at the joint meeting of Seyed Mohammad Atabak, Minister of Industry, Mining, and Trade, with the Managing Directors of major mine and mineral industries companies held at IMIDRO declared:
“With the efforts and cooperation of companies, the support of the Ministry, and my colleagues at IMIDRO, $2.9 billion worth of projects were completed last year, and another $1 billion will be added this year.”
The Deputy Minister of Industry, Mine and Trade stated:
‘In the steel chain, the production-to-capacity ratio has reached 60%, and in the zinc industry, it has reached 30%. He added, “We plan to achieve increased production through various methods, including process improvement and focusing on removing bottlenecks.” Furthermore, another step will be taken to utilize production capacities through developing relationships with neighboring countries and those with more suitable reserves.
Investment in the “high-tech” sectors
Deputy minister continued:
investment in the “high-tech” sectors in line with the value chain is considered as one of IMIDRO’s goals; he added another program of the IMIDRO in the field of copper and gold is the participation and entry of the private sector by determining investment models and aimed at increasing production.
Aghajanlou continued: Utilizing the capacity of capable countries in melting and refining is being targeted , and in the next step, these types of collaborations will be directed toward the development of downstream industries and high-tech sectors.
Investment in Mining Areas calling
Aghajanlou stated that the design of regional investment packages, aimed at attracting private companies and developing the province’s mines, will begin in Month Khordad (Iranian calenda – in the form of an investment call – within the exploration areas and licenses,belonging to IMIDRO.
Aghajanlou while stating that plans to increase the export of goods and engineering services with the support of Engineer Atabak is in progress added: in line with the development of foreign cooperation, a contract was inked with Uzbekistan in the past weeks, and a contract was finalized and inked for an engineering service for a direct reduction unit in Kazakhstan.
He added: The utilization of the export potentials of countries such as Oman, which has access to European markets and some other continents and has zero tariffs, has been targeted.
The Deputy Minister of Industry, Mine& Trade while refering the plans and performance of this organization in the field of infrastructure stated: the construction of solar power plants, roads leading to mines, consolidation program of water transfer companies are among the activities currently being carried out in infrastructures by IMIDRO and its affiliated companies.
The Chairman of the Executive Board of Directors of IMIDRO added:
Due to accelerate developmental programs, The regular monitoring of the performance of mine and mining companies is being done by IMIDRO.
He also mentioned the use of modern technologies to solve bottlenecks in the industry and create added value, especially in the gas sector, as another development policy of IMIDRO.