Italy sign deals to participate in Iran’s steel projects
Baku, Azerbaijan, Apr. 13
By Fatih Karimov - Trend:
Italian firms signed various agreements with Iranian steel companies for cooperation, IRNA news agency reported April 13.
The documents were signed during Iran-Italy trade meeting on April 13, with the participation of Italy's Prime Minister Matteo Renzi and Iranian industry Minister Mohammad Reza Nematzadeh.
Italian Steel firm Danieli signed an agreement worth 350 million euro with Butia Iranian Steel Company (BISCO) for cooperation in construction of a steel company with 1.5 million tons output capacity.
According to another deal which was signed between the BISCO and Italy's FATA SPA, the Italian side will provide equipments and service for construction of a 450-megaawatt (MW) power plant in Iran's Kerman province. The deal's value is over 237 million euro.
During the forum, Italy's Marcegaglia company also signed an agreement with Iran's Mobarakeh steel company for boosting mutual cooperation.
Following the removal of international sanctions on Iran, Danieli signed agreements related to a joint venture and orders for the supply of machinery and plants to be installed in Iran, worth approximately 5.7 billion Euros last February.
According to Iranian Ministry of Industries, Mines and Trade, Iran's crude steel output is projected to increase to 18 million tons in the current Iranian fiscal year. The figure is to reach 55 million tons by 2025.
Iran was put 14th among the world's leading steel producing countries in 2015. The country produced 16.11 million tons of crude steel in 2015, a decrease of 1.4 percent compared to its crude steel output in 2014 which amounted to 16.331 million tons.