Iran, BAOSTEEL to Cooperate in Steel and Exploration Sectors

Deputy CEO of BAOSTEEL stressed that with respect to BAOSTEEL’s facilities in steel, mine, jetty, finance and IT sectors extensive cooperation between Iran and China can be established and developed.
During the meeting, Chen Zaigen noted the decision of Iran and China officials for expansion of economic cooperation. ”our launched plants in China have high environmental standards even more advanced than some European and American companies”, he said.
 Zaigen mentioned cooperation development with Iran as an agenda for Chinese companies is china government program. BAOSTEEL has high liquidity conditions so that BAOSTEEL’s annual turnover is $130billion.
“We planned to achieve capacity of production 55 million tons steel by 2025 and extensive projects were started in exploration sector in order to supply raw materials”, Chairman of the board of IMIDRO said.
“Our forecast is that by continuing exploratory activities Iran’s iron ore reserves will be increased between 30 to 50 percent by the next year”, he added.
In addition to mineral deposits, gas reserves and access to free waters and skilled labors provide appropriate situation for cooperation with foreign companies for expansion of mine and mining industries especially in steel sector, Karbasian expressed.