Iran Seeks $29 Billion for Steel to Mining Projects

Iran has $29 billion of mining investments attracting interest of companies from Europe to Asia, with plans to more than double steel production by 2025 and boost exports once international sanctions are lifted.

Iran, home to the world’s biggest natural gas reserves, plans projects ranging from steel to aluminum production, gold mining and copper, Mehdi Karbasian, deputy minister of Iran’s Ministry of Industries, Mines & Trade, said in an interview in Tehran. German, French and Dutch delegations visited Iran in the past few weeks, and a two-day seminar on steel opportunities is tentatively set for September on Kish Island in the Persian Gulf, he said. Companies looking to invest don’t want to be identified until sanctions are removed, he said.