Iran inaugurates 1.5-million-ton sponge iron plant

Business Materials 4 December 2012 17:33 (UTC +04:00)

Azerbaijan, Baku, Dec.4/ Trend G.Mehdi/

A large sponge iron production unit, with the annual capacity of 1.5 million tons, was inaugurated in Iran's Isfahan province on Monday, IRIB reported.

The project cost over 2.3 trillion rials (some $188 million) and created 700 direct and indirect jobs.

Iranian President Mahmoud Ahmadinejad attended the inauguration ceremony.
Moreover, two oxygen production units for Isfahan's steel company were opened.

The units have the total capacity of 20,000 cubic meters of oxygen, 16,000 cubic meters of nitrogen, and 200 cubic meters of argon. Some 800 billion rials has been invested in the project.

On October 28, a sponge iron production unit, with the planned annual output of 1.8 million tons, came on stream in Hormozgan Province, south of Iran.

The project cost 3.5 trillion rials (about $285 million) and created 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.