Iran's aluminum exports stand at $125M

Iran says its aluminum exports have reached approximately 125 million dollars in the first half of the current Iranian year (beginning March 21). A new report released by Iranian Mines & Mining Industries Development & Renovation Organization (IMIDRO) says a total of 87,693 tons of aluminum have been exported in the same period -- up 18 percent compared with the previous year. It says Iran aluminum output increased by 22 percent to 143,622 tons in the same period. The data shows that two Iranian companies -- Iralco and Almahdi -- produced 86,544 and 57,078 tons of aluminum respectively in the first half of the year. In September, a report revealed that an Indian company is likely to invest INR 80 billion in a Greenfield aluminum smelter in Iran. According to Reuters, India's state-run National Aluminum Company Limited plans to build a 310,000 ton smelter and power plant in Iran in cooperation with Iran's Kerman Development Organization. "Maybe in a month or two, we will go ahead and sign the JV agreement with our local partner," said BL Bagra, NALCO's director of finance. DB/TG/DT