Azerbaijan, Baku, July 23 /Trend M. Moezzi
Although it has the capacity to produce 15 million tons of steel, Iran imports 10 million tons annually.
That figure was cited by Mohammad Reza Tabesh, Ardakan's representative in Iran's Majlis (parliament), at a ceremony launching the construction of a sponge iron unit on the Ardakan Steel Complex, Mehr news agency reports.
Mr. Tabesh said that banks and Iran's National Development Fund are designed to support completing $163 million project in 30 months. The sponge iron unite will employ 300 workers directly and 1,500 others indirectly.
The Yazd Province, where Ardakan is located, has the capacity to produce 10 million tons of steel annually, Tabesh said.
Iran's iron ore reserves hit about 1.7 billion tons and 850 million tons - proven reserves. Those reserves, along with the capacity to produce 15 million tons of steel annually, make it a priority for Iran not only to become self-sufficient in its iron ore supply, but to become an exporter, Ardakan's representative said.
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