Plant of Iran's South Kaveh Steel Company launched
BAKU, Azerbaijan, September 26
By Elnur Baghishov – Trend:
The second plant of the South Kaveh Steel Company in the Hormozgan Province (southern Iran) has been launched, Trend reports citing Ministry of Industry, Mine and Trade of Iran.
Speaking at the event dedicated to launch of plant the CEO of South Kaveh Steel Company Ali Dehaqin said that the Mostazafan Foundation has invested to the construction of the second plant.
The CEO added that with the commissioning of this plant, 1.2 million tons per year were added to Iran's steel ingots production capacity, and this is an increase of about 10 percent.
Dehaqin also noted that currently, the annual production capacity of South Kaveh Steel Company amounts 2.4 million tons.
"Thus, Iran's South Kaveh Steel Company has moved up from 7th place to 4th place among Iranian steel producers," he said.
The CEO stressed a total of 7,000 new jobs were created with the launch of the plant.