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Domestic production of mining equipment saves Iran $838m in a year

Tehran Times , 25 May 2024 - 20:00

Reporter : Editorial of The Iran Project

Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) and its subsidiaries have managed to indigenize the knowledge for the production of $838 million worth of mining equipment and machinery in the previous Iranian calendar year (ended on March 19).

According to The Iran Project, according to Hassan Younesian, who is an advisor to the IMIDRO head, the mentioned figure was 20 percent or $144 million more than the target for the said year, and over 56 percent more than the figure achieved in the previous year.

Large companies active in mining and mineral industries such as Mobarakeh Steel Company, Khuzestan Steel Company, Chadormalu Mining and Industrial Company, Golgohar Mining and Industrial Company, South Aluminum Corporation, Hormozgan Steel Company, Khorasan Steel Company, and Iran Alumina, have contributed to the domestic production of the mentioned equipment and machinery.

Back in November 2023, Mohammad Mousavi, the deputy minister for heavy machinery and equipment industries said manufacturing of road construction and mining machinery in Iran has increased by 100 percent in the Iranian calendar year 1401 (ended on March 20, 2023).

According to the official, during the mentioned year 3,500 such machines were manufactured in the country.

Referring to a plan for the modernization of road construction machinery, he said: “In the field of mining and road construction machinery, we have 15,000 worn-out machines which are over 20 years old. Due to the efforts of the private sector, 10 powerful Iranian companies were able to achieve a 100 percent increase in production in 1401 compared to 1400.”

According to the official, the Industry Ministry is taking the necessary measures to maintain the current upward trend in the production of the mentioned machinery in the country and plans are underway to achieve a 40 percent increase in output in the current year.

He said all the country’s road construction and mining machinery are going to be renovated in the next three years, noting: “The main problem of manufacturing companies is the supply of raw materials, and I hope that the plans we have had for the supply of raw materials will lead to an increase in production [of such machinery].”

The official said Iranian manufacturers of heavy machinery are also eying exports to foreign destinations and the upcoming EAEU exclusive exhibition would be a good opportunity for such companies to ink deals in this regard.

Story Code: 422173

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The Iran Project