Date: 13 Mar 2000
Time: 08:05:38
Remote Name: 156.29.145.175
Yazd, march 13, irna -- mines and metals minister eshaq jahangiri said here monday that the ground has been prepared for investment by the private sector in the exploration and extraction of minerals. jahangiri told irna that those investing in the mineral sector would be given special facilities such as loans. he said that in case of the private sector investment leads to the extraction of lead and zinc, the extracted minerals would be purchased at international rates. he added that by allocating one billion dollars, the production capacity of unprocessed steel and cold rolling mill products at the mobarakeh steel mills complex would increase by 4.2 and 1.5 million tons respectively. the minister further said contracts have been inked with south korea, china and ukraine for the expansion of isfahan foundry under a credit of dlrs 240 million. he said the complex would have a smelting capacity of up to 3.7 million tons of iron. jahangiri said that a development project for the chadormalu iron ore unit will be implemented next year under a credit line of dlrs 100 million plus rls 450 billion. he said the implementation of the project would raise the complex's production capacity to 8.5 tons a year from the present 5.1 tons. furthermore, under a dlrs-125 million plus rls-740 billion credit, operations will begin in the coming iranian year (starting march 20) to implement a project to develop choghart iron ore complex in bafq, yazd province. ardakan steel ingot production complex, built at a cost of dlrs 95 million plus rls 450 billion credit, will also become operational in the next iranian year, said jahangiri. he added that there are plans to implement a project costing dlrs 50 million plus rls 50 billion to establish downstream industries at yazd steel alloy complex. with the commissioning of the bafq zinc production complex next year, 53,000 tons of sulfuric acid and 28,000 tons of zinc ingot would be produced annually, he added. jahangiri said meybod steel production complex, whose equipment has been installed by iranian experts, will become operational in the next two years at a cost of rls 230 billion. he said the mines and metals ministry had provided the complex with dlrs four million. some 92 out of 2,200 mines of the country are operational in yazd province. bg/ah