Iran steel industry got $5bn investment


Steel-industryIran’s steel industry obtained $5 billion investment to develop three great projects, Deputy of Industry, Mine and Trade Ministry announced. The three great projects have been planned to increase capacity for the industry. Minister Mehdi Karbasian asserted “this amount will be dedicated to development projects and the finance will be provided by domestic and foreign investors.”

Three projects of Chabahar with annual production capacity of 3 million tones, Bandar Abbas with annual production capacity of 6 million tones, and Arvand steel industry are among development projects, he added. Chabahar project has been launched by support of private sector, while Bandar Abbas plan will be executed by financial cooperation of India and Kuwait.