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USD 1 billion investment pact signed steel mill in Kurdestan Province

Steel News - Published on Wed, 16 May 2018

Image Source: Financial Tribune
Financial Tribune reported that Iran's largest state owned mining holding and a consortium of steelmakers signed an agreement to invest USD 1 billion in setting up an integrated steel production chain in Kurdestan Province. Mr Mehdi Karbasian, chairman of Iranian Mines and Mining Industries Development and Renovation Organization said that "As per this agreement, capacities will be established for the production of 2.5 million tonnes of iron ore concentrate, 2.5 million tonnes of pellet, 1.6 million tonnes of direct-reduced iron, 1.5 million tonnes of molten metal and 1 million tonnes of flat steel per year.”

He added that "Two or three of the six plants are set to start production in the next three years.”

According to Mohammad Darevazmi, the head of Kurdestan Province's Industries, Mining and Trade Organization, the consortium is made up of Kimia Maaden Sepahan Company with a 16% share, Emdad Mines Mobilization Development Company with 20% and Sabanour Mining and Industrial Development Company with 20%. He added that IMIDRO owns a 44% stake in the consortium.

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Posted By : Amom Remju on Wed, 16 May 2018
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