Baku, Azerbaijan, Dec. 24
By Umid Niayesh - Trend:
The first magnesium ingot production plant in Iran was inaugurated on Dec. 24, during a ceremony attended by Iran's Minister of Industries, Mines and Trade Mohammad Reza Nematzadeh.
The plant has the capacity to produce 6,000 metric tons of magnesium annually, the official IRIB news agency reported.
The production capacity is planned to reach 24,000 metric tons per year in next 3 years.
The plant, located in Iran's eastern South Khorasan province near Birjand city will meet the country's demand for magnesium and make it possible to export the metal.
The Islamic Republic plans to export the plant's products to Gulf states as well as European countries.
The construction work on the plant started in 2010 and about 1 trillion rials (some $37 million based on official rate of 27,000 rials/USD) is invested for it.
Iran would be able to save annually $18 million through halting magnesium import after the plant came on stream.
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