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NewsIranian mining companies to receive foreign finance

Iranian mining companies to receive foreign finance

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TEHRAN, Sep. 13 (MNA) – IMIDRO Managing Director Mahdi Karbasian announced a recent finance agreement between Iran and Germany, saying Iran will receive some good news about mining finances from a number of countries.
Speaking to reporters on the sidelines of the ceremony introducing the new CEO of Iran’s National Steel Company, Deputy Minister of Industry, Mines and Trade Mahdi Karbasian said “there are good news awaiting Iran concerning the mines and mining industry.”

According to Karbasian, who is also the Managing Director of Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO), two "good plans" have been finalized which include the development of Hormozgan Steel Company and a new development plan for Mobarake Steel Company. Two days ago, Mobarake Steel Company reached an agreement with a German investor, under which the Iranian steel company will receive investments from the European country. Karbasian again hinted at some "good news" to be disclosed to media in the near future in regard to the agreement. 

Karbasian evaded the question on the value of German finance contract with Mobarake Steel Company, only saying that Germany’s finance for the mining company has been finalized, but the figure will be revealed after the deal is signed. According to Karbasian, Italy is also considering to offer some finances as well.

Karbasian went on to add that Iran is also in talks with with China in order to attract foreing investment. The recent contract signed between Iran's Ministry of Economy with South Korea has also provided good opportunities to finance mines and mining industries in the country, he added. 
Source: IRNA