foreign inv in iran : 9 billion

Foreign investment in industries and mines reached close to nine billion dollars in the three quarters ending in January

Monday¡ 19 Mar 2007



Foreign investment in industries and mines reached close to nine billion dollars in the three quarters ending in January, the Industry Minister said Tuesday.
Speaking at a press conference, Alireza Tahmasebi stated that close to nine billion dollars was invested by foreign entrepreneurs in 49 projects. He expected the figure to surpass $10 billion by the yearend (March 20).
Raw steel production in state and private plants will increase by 6 percent in the outgoing Iranian year compared to previous year, Moj news agency quoted him as saying.
Reflecting on the chaotic cement market, the minister said cement production this year climbed by 9 percent, while domestic auto manufactures registered a growth rate of nearly 10 percent compared to last year?s figures.
Petrochemical, chemical and copper output is also set to improve in the range of 14 to 15 percent respectively.
According to Tahmasebi, extraction of ore will likely grow by 22 percent during the year, which ends March 20.
Briefing the press on the performance of his ministry during the past 12 months, he acknowledged that problems in some industries had negatively affected production.
?For instance, production of aluminum ingots fell by 5 percent due to the closure of boilers in the Iranian Aluminum Company--the country?s primary producer of the metal which is indeed instrumental in all economies.?
Thanks to the proper policies of his ministry, the minister said, electronic and telecommunication sector that had earlier experienced decline, was improving.
To prove that the two sectors? performance picked up after he took office, Tahmasebi cited latest surveys based on which production of monitors and TV sets grew by 20 and 4 percent respectively.
?Industrial and mine products accounted for 12 out of the 15 billion dollars earned from non-oil exports during the current year compared to last year, registering a 65-70 percent rise,? Tahmasebi told the reporters.



National Geoscience Database of IRAN