Our Main Task Is to Support Domestic Production
Thanks to your efforts and cooperation, the BIM registered a more
brilliant record in the field of industrial production, employment and
industrial development in 1396.
Chairman of Board of Directors and Managing Director of Bank of Industry and
Mine Ali Ashraf Afkhami issued a message on the occasion of Nowruz (the New
In his message, Afkhami, placing emphasis on support for domestic producers
and products, said:
Great family of Bank of Industry and Mine, dear colleagues;
The year 1397, designated by the Supreme Leader as the Year of Support for
Iranian Products, will make the task of the BIM, which plays a very
important role in financing industrial projects and production units, more
important than ever. Fortunately, last year, our bank was able to play an
important role in production and creating employment in addition to
providing facilities as an advisor to domestic producers.
The Bank of Industry and Mine left behind the year 1396 under conditions
that on the last days of the year, LCs were opened for two major industrial
projects, namely the 484-megawatt Qeshm Energy Development Company’s
Combined Cycle Power Plant and southern Assaluyeh ADISH Gas Condensate
Refining Project at a cost of $520 million.
Thanks to your efforts and cooperation, the BIM registered a more brilliant
record in the field of industrial production, employment and industrial
development in 1396.
In the meantime, as a development and specialized bank, the BIM has
succeeded in making great strides for progress and development of our
country. The measures taken in compliance with realization of the Economy of
Resistance, policies and production boom in 1396 illustrate the ceaseless
efforts of you dear colleagues. The financing of working capital of more
than 1,350 small and medium-sized enterprises won the BIM a top place among
all the banks in the country.
As the only development bank in the field of industry, mining and
infrastructure, BIM succeeded in adding 3,000 megawatts to the capacity of
the country’s electricity grid by financing six 500-megawatt power plants
and 24 small-scale power plants.
Also, BIM has financed the first high-speed train of the country
(Tehran-Qom-Isfahan) at a cost of $1.8 billion which is under construction.
Three desalination units each with a capacity of 100,000 cubic meters per
day have been financed to supply water to the southern steel industries.
Financing of petrochemical projects, that have the ability to fetch the
country foreign exchange, such as Kavian, Lorestan, Mahabad, Masjed Soleiman,
and Ilam petrochemicals, is among other distinctive measures taken by the
BIM. Ilam and Masjed Soleiman petrochemicals are under construction and the
rest have been commissioned.
Among other measures taken by the BIM mention can be made of the following:
The opening of LC for electrification of Tehran-Mashhad railroad at a cost
of €1.5 billion, financing to purchase three Airbus and eight ATR aircraft,
which are currently used in the air fleet of the country, financing of 7
steel mill projects and some other steel projects such as Rohina (Dezful),
Pasargad (Fars) and Madkush (Bandar Abbas) worth more than 2 billion euros.
Some of these steel projects have been commissioned. These actions by the
BIM has considerably improved Iran’s ranking among steel-producing
Furthermore, in May 2017, we were able to activate the Core Banking system
as the first state bank. In the international division, two years having
passed since the nuclear deal known as JCPOA (Joint Comprehensive Plan of
Action), we have established brokerage relationship with 92 banks in 36
Financing dozens of other projects in the fields of pharmacy, processing
industries, cold stores, textile, rubber, cement, tile, Ferrosilice, paper,
packaging of various steel sheets and commissioning most of them throughout
the country have caused economic mobility, increased exports and employment.
Taking advantage of this opportunity, I would like to expresses my
appreciation for the support of the Central Bank and the National
Also, in order to implement the policies of the government and the emphasis
of the Minister of Economic Affairs and Finance on the transfer of the
companies of the banking system, we succeeded in successfully transferring
51 percent of the company stock on Feb. 13 after identifying legally
It is a source of pleasure that the BIM, with 61 years of knowledge and
experience, has taken steady steps on the path of “progress and development”
and is determined to continue this mission.