Jan 31, 2015, 8:38 PM
News Code: 81486964
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Iran welcomes South Korean cooperation in steel projects

Tehran, Jan 31, IRNA – Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) welcome cooperation with South Korean POSCO (Pohang Iron and Steel Company) in implementing new steel projects in southern Iran, deputy minister said Saturday.

Deputy Industries, Mines and Commerce Minister and head of IMIDRO Mehdi Karbasian made the comment in a meeting with the visiting top manger of POSCO Jin Sik Choi, further elaborating that Iran-Korea cooperation in steel field will be along the southern coasts of Iran, including in Chabahar, Bandar Abbas and Asaluyeh.

'Iran pursues steel projects aimed at achieving 55 million tons annual production by the year 2025,' said Karbasian.

The top POSCO manager said that his multinational firm is ready to assist Iran in implementing its steep plants using the modern 'Finex' technology.

Jin Sik Choi said that POSCO has recently assembled a steel plant with nominal annual production capacity of two million tons and before that a steel factory with annual 1.5 million ton production, both using the Finex technology.

The World Steel Association (Worldsteel) latest report in the year 2014 indicates that Iran with an annual production of 16 million and 331 thousand tons of raw steel is currently the 14th top steel producer of the world and the top producers in the Middle East.