Afghanistan, May 14 -- Iran will invest $5 billion in Afghanistan's iron ore sector, aiming to increase steel production and future profits.
The Islamic Republic of Iran is set to invest $5 billion in Afghanistan's iron ore mining industry, according to a report by Iran's state-run Fars News Agency. Iranian Ambassador to Kabul, Alireza Bikdeli, described Afghanistan's vast mineral resources as a "strategic opportunity" for economic cooperation between the neighboring countries.
The report, published on Monday, highlights that the investment is expected to significantly elevate Iran's position in the global steel production rankings. By importing Afghanistan iron ore at $100 per ton and processing it into steel with a market value of $600 ...