IMIDRO BoD Chairman: Mehdiabad Mine Former Consortium Pays off Debts

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Madanna: Emphasizing the importance of role of mine and industry section in investment attraction after Iran Nuclear Deal, IMIDRO BoD Chairman said: IMIDRO sees itself responsible in paying off all debts related to former consortium of Mehdiabad in the Mine.

Madanna News reported that as Mehdi Karbasian believes Mine section is more important in investment attraction than Automobile industry after Nuclear Deal because there are limited mineral resources and foreign investors can feel more ensured about investing long-term in Iranian mines like 50 years.

In automobile industry, the competition is fierce and companies are launching newer technologies every day but it isn’t so in Mining, and Steel production technologies stand longer. That is why we have diverted our investement to Steel and we are conducting plans on it. But as the investment required in Mine and Steel is long-term, the return of investment is slow. Currently, Iran has contracts with Danielli and SMS worth billions of dollars.

Karbasian also pointed out the decisions on Mehdiabad Mine: IMIDRO is responsible to pay off all costs KDD has suffered to run the Mine, therefore the accounts of the consortium will be paid off. Because this is a responsibility of IMIDRO and fortunately, experts have calculated the costs to pay back.