(MENAFN) According to the Iranian deputy minister of industries, mines and trade, the government will carry out a USD5 billion plan to develop projects in the southern areas, Iran Daily reported.
The deputy, who is also the chairman of the Mines and Mining Industries Development and Renovation Organization, added that the project will be implemented with the participation of domestic and foreign firms.
He noted that Chabahar Steel Plant, with an annual capacity of 3 million tons, would be implemented in cooperation with the private sector. Indian and Kuwaiti firms will take part in the expansion of Bandar Abbas Steel Company.
The World Steel Association introduced Iran as the world's 14th biggest steel producer, with crude steel output totaling 1,459,000 tons in November, growing 6.1 percent from last year's 1,375,000 tons.
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