Italy’s Denali and Fata plan €4bn Iranian steel investment

Iranian Mines and Industries Development and Renovation Organization (IMIDRO) announced on Wednesday two Italian companies, Denali and Fata had put forward plans to invest €4bn in the country’s steel and aluminium industries. The proposals were made in separate presentations to Iran’s  Minister of Industries, Mines and Trade and IMIDRO Managing Director Mahdi Karbasian.
The two companies are planning to establish a joint firm and invest in a 6.5 million ton iron ore and a 3 million ton sponge aluminum project in a 60-40 split