Mr Ahmad Ali Harati Nik deputy minister of industries and mines of Iran announced that IMIDRO invested USD 7.1 billion in the Fourth Development Plan.

Mr Ali Harati Nik asserted that “This rate of investment was achieved due to the commissioning of 60 mining and mineral industries projects.”

He said that based on the plans that are going to be inaugurated in the next 5 years, about USD 27 billion capital will be allocated to mining and mineral industries section. According to him this amount of investment in the Fifth Development Plan will contribute in carrying out 108 projects.

He added that in the Fourth Development Plan about 220,000 job opportunities were created in the country directly and indirectly. The figure of direct and indirect employment in the projects of the Fifth plan will be 440,000.

Mr Ali Harati Nik said that the production of processed iron ore and iron ore concentrate in 2005 was 13 million tonnes while the figure increased to 25 million tonnes at the end of last year.

He said that the direct reduction units of these projects will be commissioned by mid 2012 and by the end of 2013, eight projects will be launched.

Mr Mr Ali Harati Nik said that the first part of issuing participation bonds of the projects, valued at USD 500 million was undertaken at the end of last year and according to the central bank’s permit the Phase II will be undertaken by selling USD 500 million participation bonds.

(Sourced from www.imidro.org)