| 13 Mar 2005 |
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Iran: Private sector investing dlrs 1.4b in Nahavand aluminum
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Some 1.4 billion dollars will be invested in the construction of Iran's largest aluminum factory in the western city of Nahavand, Hamedan province, Iran's Mining House announced on Sunday.
According to the English-language paper `Iran Daily', the private sector would undertake investments in the project, which, once completed, will greatly increase Iran's aluminum production capacity.
It further noted that the huge water reserves in the western city as well as easy access to raw materials prompted private enterprises to select Nahavand as the site of the factory.
It suggested that the investment will be in the forms of buyback and BOT (build, operate, transfer), adding that once Bank Melli Iran approves the project, the implementation of the project will begin in April.
Experts believe that the 680,000-ton aluminum production target stipulated in the fourth five-year development plan (March 2005-2010) could be met easily given that several giant aluminum production units are up for privatization in the coming years.
The privatization of giant Al-Mahdi Aluminium Complex is in its final stages. Al-Mahdi's production capacity will increase from the current 110,000 tons to 200,000 tons per annum in the year to March 2006.
Aluminum production capacity will reach 230,000 tons per annum during the fourth plan.
Arak Aluminium Complex will also be ready to transfer its shares to private ownership.
Inexpensive energy and raw materials have helped develop the aluminum industry in Iran. However, there are growing concerns about high aluminium prices and continued state monopoly.
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