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May 2017, No. 83


IMIDRO Exclusive

IMIDRO Will Commission 28 Projects Worth $1,420 Million

IMIDRO is defined as the leading and most effective development organization in the field of mine and mining industry. The organization has remarkably increased the production capacity of the country in the past 15 years, ceding a great number of its subsidiariesí share in a privatization plan.

Some of these companies include Mobarakeh Steel Co., Khuzestan Steel Co., Iran Aluminum Co., Hormozal Aluminum Co., Al-Mahdi Aluminum Co., National Iranian Copper Industries Co., and several companies producing lead, zinc, cement and other products. IMIDRO has launched more than 110 projects valued at over $ 13 billion in the last 15 years.

In spite of facing financial problems, the organization managed to carry out its plans in the new era of its activities.

There has been some modification in the organizationsí financial plan in 2014 and by defining new financing methods, top priority was given to domestic and foreign investment.

Iranian Mines and Mining Industries Development and Renovation Organization, also known as IMIDRO, is the largest and most prestigious organization in developing mining and mineral industries in Iran. The organization, over the past 15 years, has brought growth and development to Iranís manufacturing capacity in an acceptable way. IMIDRO has ceded a large portion of the shares of its subsidiaries to the private sector in the privatization program of the Iranian government. Some of these companies include Mobarakeh Steel, Khuzestan Steel, Iran Aluminum, Almahdi and Hormozal Aluminum, National Iranian Copper Industries Company, numerous cement, lead and zinc producing companies, etc. In the past 15 years IMIDRO has commissioned and put into operation over 100 projects with a capital of more than $13 billion.

IMIDRO has operated successfully in the new period of its activities despite all the financial problems. In 1392 (2013/14), IMIDRO changed its financial program and by specifying new financing methods put attraction of domestic and foreign investment top on its agenda. During 1392 and 1393 (2014/15), the first phase of Zarshuran gold and Cerro Azul cement in Venezuela were inaugurated. At that time the semi-finished and fully abandoned projects were activated and became operational by adopting different financing methods. In 1393 (2014/15), nine projects including Sangan iron ore concentrate (Khorasan steel unit), Sangan pelletizing plant (national development unit), Savad Kouh coal washing plant and Jalalabad iron ore concentration entered executive operations.

Activities of IMIDRO in 1394 (2015/16) led to the opening of six projects such as Zarand tar, the second phase of the jetty of the Persian Gulf Special Zone and the start of the contract for extraction and sale of Gol Gohar 5. In the same year with new activities and investment, 15 projects started executive operations. Some of the projects include Makran Steel, South Aluminum, Sangan Concentrate (Mobarakeh Steel unit) and production of rare earth elements and strategic metals.

In the current year too, 28 projects will be inaugurated and put into operation. This year parts of the results of the activities of 1392 (2013/14) became visible which rendered help to several provinces in the country in the field of sustainable employment. Some of these projects include Sefidabeh Antimony in Sistan and Baluchestan, Chahar Mahal and Bakhtiari sponge iron unit, Shadegan sponge iron unit in Khuzestan Province, Neyriz sponge iron unit in Fars Province, first phase of Jajarm Aluminum in North Khorasan and Titanium pilot project in Kahnouj, Kerman Province.

IMIDRO in continuation of its activities will open and put into operation 12 projects by the end of the current calendar year (March 2017) and will commission five projects and finally will enter a total of 73 projects into the production circuit of the country by the end of 1398 (March 2020). Some of the other projects include Chabahar Aluminium, alumina production from nepheline syenite, production of magnesium oxide from Qom Salt Lake, Parsian dock and Parvadeh 4 coal.

This year, IMIDRO will open and put into operation 28 projects with a total capital of $1,420 million. Next year, with an investment of $1000 million, 12 other plans will be added to the production capacity of the country. Furthermore, 17 projects with an investment of $4,390 million will be opened in 1397 (2018/19) and in the final year of this report, 8 projects with an investment of $3,300 million will finally become operational.

In other words, since 1392 (2013/14) up to the end of 1398 (March 2020), seventy-three projects with a capital of $11 billion will become operational. Through these plans, about 8,500 people will be employed directly and 12,000 others indirectly. Out of the total 73 plans, activities for 20 plans started before 1392 (2013/14) and for 53 others the year after. This has helped preserve IMIDROís position as a development organization in the field of mining and mineral industry at international level.

In the event of presence of foreign investors, IMIDRO will bring forward and launch new plans. Iran has rich underground and energy reserves and our access to the high seas and macro regional markets, provides us with the opportunity to define ample economic plans. Iran will be an original option for foreign investors and this is a point which they know better than we do. With the adopted plans, the special energy consuming industries in the southern coastline of the country, in Lamerd and Parsian regions near Assalouyeh, have started ceding land to applicants for investment. This area is a large hub for production of steel, cement, aluminum and petrochemical industries in the region and has a very clear vision and we recommend all foreign investors to examine the situation.

For the development of international cooperation in the mining and mineral industries sector in Iran keep in touch with IMIDRO.

 

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  May 2017
No. 83