TEHRAN, Iran, Nov.12
Trend:
Khatam al-Anbiya Construction Headquarter (engineering firm controlled by the Iranian Revolutionary Guard Corps) will handle the work on the Baft Steel Company's recovery project, despite pressuring sanctions, Trend reports via Fars News Agency.
Khatam al-Anbiya Construction Headquarter is set to work on mineral, exploration and processing projects, as well handle the production of some 800,000 tons of sponge iron at the Baft Steel Complex.
Launching the project would help balance Iran's steel sector, as well as
Overall, the launch of Baft Steel Complex along with eight other steel production-related projects would help Iran to reduce steel imports.
Iran's President Hassan Rouhani has previously inaugurated the first phase of Baft Steel Recovery Complex in Kerman Province.
The initial investment in the project amounted to 120 million euros.
The recovery plan will use new methods invented by Iranian experts known as "Persian Reduction". The method is similar to previous recovery methods but it increases production with less energy consumption.