Minews - Turks seek investment in Iran ferrochrome

(Minews) - A Turkish industrial group has indicated interest in investing in Iran for production of ferrochrome, the Fars news agency said on Friday.

Yildirim Holding A.S. says it is ready to purchase Iran’s ferrochrome production units or their products and mines to produce chrome ores.

Yuksel Yildirim, CEO of Yildirim Holding, met with head of Iranian Mines, Mining Industries Development and Renovation (IMIDRO) Mehdi Karbasian in Tehran and discussed cooperation, Fars said.

Yildirim announced readiness to sign a 10-year cooperation agreement, saying his company has a plan for operation in Iran.

Ferrochrome is mostly used in stainless steel. A production unit in Sabzevar is the only producer of ferrochrome in Iran.

Yildirim Holding, a subsidiary of Turkish industrial conglomerate Yildirim Group of Companies, is already producing ferrochrome in Turkey, Russia and Kazakhstan.

Yildirim said his company is also ready to cooperate with Iran to produce potash, phosphates, fertilizers and mining equipment.

According to Fars, Karbasian welcomed the Turkish company’s offer for ferrochrome production and indicated interest for cooperation in coal mining in Iran's Tabas.