Spain to Invest in Iran’s Coal Sector

Suministros Logisticos de Maquinaria (S.L.M ) and Iran Minerals Production and Supply Company (IMPASCO) signed Memorandum of Understanding on production of biofuel.

CEO of S.L.M on the sidelines of this MoU on cooperation and investment in coal sector and construction of the coal refinery producing biofuel (bioethanol) announced that we are going to sign a 15 year contract for purchasing thermal coal from Iran to supply the materials of this refinery.

This Memorandum of Understanding was signed by CEO of S.L.M and CEO of IMPASCO and also chairman of the board of IMIDRO attended this meeting.

According to MoU, these firms will cooperate in areas such as exchange information of the project, providing required resources for the project, providing technical and economic feasibility reports and introducing investment opportunities in all mining sectors in Iran.

Juan Carlos Gonzales Perez said that they have constructed two refineries in Brazil and north of Spain and they will construct the third refinery in Iran. Required materials for this refinery are coal and plant, the type of plant will be chose later. Performed economic and technical feasibility reports shows that this project will create nearly16000 jobs.

Also, Mehdi Karbasian expressed that Iran has discovered 3 billion tons coal reserves now and it has been forecasted to rise significantly by the end of the exploration projects.

Vajihollah Jafari, CEO of IMPASCO, added that this MoU will increase coal consumption in Iran and will improve coal sector.