News ID: 238819
Published: 0328 GMT February 13, 2019

Deputy head: IMIDRO implemented 113 projects worth $15b in 16 years

Deputy head: IMIDRO implemented 113 projects worth $15b in 16 years

Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) implemented 113 projects worth $15 billion during 2002-December 21, 2018, said a deputy head of the organization.

Amir Khorramishad, IMIDRO's deputy head for planning and empowerment, told IRNA on Wednesday that the implementation of the projects led to the creation of 45,000 direct and over 100,000 indirect jobs by the organization in the mines and mining industries development sector.

In the first seven years following the establishment of IMIDRO in 2002, the organization implemented projects valued at $6 billion, he said.

Khorramishad added since the adoption of a strategy by IMIDRO in 2013 to attract foreign investors, the organization has completed and inaugurated projects worth $4 billion.

"More than $16 billion have been invested in projects currently under implementation by IMIDRO including 20 joint ventures and 19 state projects. The organization is also assisting major private companies in implementing 38 development projects."

Commenting on the organization's performance in attracting private investors following the taking office of Iranian President Hassan Rouhani's first administration in 2013, he said IMIDRO has secured private funds to the tune of $2.02 billion for developing domestic mining and mining industries sector since that year.

Khorramishad added, "Aimed at reducing exports of raw materials and developing high value-added industries, the completion of domestic steel and copper production chains has witnessed a significant growth since 2013. [Iran's iron ore] concentrate, [iron ore] pellet and steel ingot production capacities have increased 82 percent, 150 percent and 60 percent, respectively, since 2013. Iran's exports of sponge iron have also witnessed a more than 260-percent growth as of the same year."

He noted that since March 21, 2018, IMIDRO has made eight projects involving an investment of $1.246 billion operational creating 2,500 sustainable direct jobs in less developed areas of the country.

Khorramishad said according to statistics, Iran's annual raw steel production, which amounted to 368,000 tons at the time of the victory of Iran's 1979 Islamic revolution, now stands at 22 million tons, adding the country's yearly copper, aluminum, iron ore, coal and aluminum oxide production capacities have also increased significantly during the past 40 years to reach 160,000 tons (from 300 tons), 337,000 tons (from 18,000 tons), 74.1 million tons (from 713,000 tons), 1.5 million tons (from 504,000 tons), 240,000 tons (from 102,000 tons) respectively in the year to March 2018.

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