Minews - China to build giant aluminum complex in Iran

(Minews) - Iranian investors and a Chinese company have agreed on the construction of a large aluminum complex in the Southern province of Fars, project's Director Mohammad Mahdavi said.

Mahdavi said the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) and Qadir Investment Company have provided required finance for the projects.

He further added that the Chinese NFC Company will implement the project.

Mahdavi said that the aluminum complex, with an annual production capacity of 300,000 tons, is to be established in Lamerd Special Zone, Fars province, in three years.

Iran is currently China's third largest supplier of crude, providing Beijing with roughly 12 percent of its total annual oil consumption.

Bilateral trade between Tehran and Beijing reached $52bln in 2014.