TEHRAN Head of the Economy and International Affairs Department at the Mines and Metals Ministry Mohammad Taqizadeh Ansari announced here Monday that value of foreign contracts signed in the mines and metals sector during 1997-1999 stands at $4.3 billion. Speaking on the occasion of the Government Week (August 23-29), Ansari said that, out of this sum, over $2 billion came in the form of foreign direct investments (FDI).
He said the contracts were related to copper development, broad steel sheet of Khuzestan, Tabas coal mines, anode producing plant, Al-Mahdi Aluminum and the five-phase steel development projects.
He added that Choghart iron ore, Ferro chrome, Al-Mahdi Aluminum that is expected to have an output of 110,000 tons in the first phase Mobarakeh Steel Complex, galvanized color sheet production, cold roll production at the complex, Zamzam Steel Production Unit in Khuzestan and iron ingot production unit in Golgohar were among other projects. Ansari said that during 1997-2000, his ministry spent $1,244 million. The forex spending by the ministry during this period shows about 40 percent decline compared to the figures for 1993-1996 which stood at $2,090 million.
(IRNA)