IMIDRO, Sinosteel ink MoU on three aluminum plans

Chinese Sinosteel Company signed an MoU with Iranian Mines & Mining Industries Development & Renovation Organization to implement alumina, aluminum and power house plans.

Production plan capacity for Alumina Powder Company is 1.6 million tons, for aluminum ingot is 350,000 tons and for combined cycle power house plant is 1000 MW, IRNA reported.

Both companies have appointed an urgent work group to provide implementation steps of this MoU and aim at implementing the second phase of the plan with two-fold increase in capacity.

The President of Sinosteel Company expressed his interest in boosting cooperation with Iran in post-sanction era.

Referring to direct financing and investment of these three projects, Huang Tianwen added that we cooperated with big Iranian steel companies previously and we are trying to develop relations now.

Mahdi Karbasian, the IMIDRO chairman of the board of executive directors also welcomed Sinosteel's investment in Iran and requested for implementing these plans in accordance with up-to-date environmental standards and technologies.

Karbasian added that Chinese banks' support for these plans would be regarded as a factor of timely implementation of plans and fulfillment of commitments.