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Iranian government has approved $8.5 billion foreign investment since implementation of the Joint Comprehensive Plan of Action (JCPOA) began, said Iranian Minister of Industry, Mine and Trade Mohammad-Reza Nemat-Zadeh.
He said that $5.5 billion of the figure belongs to mine and industry sector.The minister also said that the country’s concentrate production capacity has increased to 48 million tons from 28 million, adding the country’s pelletizing output would reach 40 million tons from 21 million tons next year.
According to Nemat-Zade, Iran would produce 35 million tons sponge iron next year.
He said that Iran is now capable of producing 37 million tons of steel.
Iran and the five permanent members of the United Nations Security Council - the United States, France, Britain, Russia and China plus Germany - started implementing the JCPOA on January 16, 2016.
Under the nuclear agreement, Iran undertook to put limitations on its nuclear program in exchange for the removal of nuclear-related sanctions imposed against Tehran.
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