SMM4, March 27: last Thursday, Iranian President Rouhani launched an aluminum smelter called SALCO by videoconference. It is reported that the aluminum smelter is located in Iran's Fars province, with an annual production capacity of 300000 tons and an investment of about 1.2 billion US dollars.
On Wednesday, Reza Rahmani, Iran's minister of industry, mining and trade, said the plant could help increase Iranian aluminium production by more than 63 per cent to 430000 metal tonnes in the current fiscal year, which ends in March 2021.
In the last fiscal year (up to March 2019), Iranian aluminum production totaled 276000 tons.
SALCO is jointly owned by IMIDRO, a mining and metals holding company run by the Iranian government, and Ghadir Investment, whose main shareholders are Iranian social security organizations and military-related pension funds.
Earlier media reports said Iran hoped to increase its annual production of aluminum to more than 800000 tons by March 2022 and would attract more than $11 billion in investment, bringing that figure to 1.5 million tons by 2025.
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