Iran inaugurates sponge iron production unit
Azerbaijan, Baku, Oct.28/ Trend G.Mehdi/
A sponge iron production unit, with the planned annual output of 1.8 million tons, came on stream in Hormozgan Province, south of Iran, on Sunday.
President Mahmoud Ahmadinejad attended the inauguration ceremony.
The project cost 3.5 trillion rials (about $285 million) to be completed. It will create some 1,300 direct jobs in the first phase.
On September 14, IRIB quoted Iranian Mines and Mining Industries Development and Renovation Organization Chairman Fereydoun Ahmadi as saying that implementing indigenized technology projects has saved some $750 million during the past five years.
Ahmadi added that the projects were related to steel, copper, and aluminum industries.
During the past two years, 228 projects have been implemented in the steel industry, he said, adding that 5,512 jobs have also been created.