Speaking during a visit to Lamerd special energy zone, Mohammadreza Nematzadeh said Iran's annual aluminum production capacity currently stands at 350,000 tons.
He added the mega-project, alone, will raise the country's total annual output capacity by 300,000 tons. The capacity of the new aluminum plant equals that of all the units currently producing the light metal.
Nematzadeh said the credit line for implementing the project was opened in 2015, adding no problems were encountered in implementing the project.
"The completion of the project will boost employment, accelerate the region's development and lay the groundwork for establishing downstream industries [in the region]."
He said the Ministry of Industry, Mine and Trade will support private investors who are willing to fund projects in the free zone.
Commenting on his visit to Parsian Special Economic Energy Zone in Hormuzgan Province on Tuesday, the minister said, "Lamerd and Parsian free zones are to be interlinked. To forge this connection, a port for importing raw materials is required and the construction operations of this will soon begin."
He added this port, to be located in the proximity of Parsian Special Economic Energy Zone, will be constructed to supply raw materials for regional projects including the one currently underway to build south Iran's huge aluminum production plant.