May 1, 2019, 6:24 PM
News Code: 83299616
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Iran opens new steel mill to up annual output by 250k tons

Tehran, May 1, IRNA- Iranian President Hassan Rouhani opened on Wednesday a new steel company with nominal capacity of 250,000 tons a year and creating 600 jobs.

First phase of the Bisotoun Steel Company, in the west of Iran, was inaugurated on Wednesday by Iranian President Rouhani who is on a visit to the western Kermanshah province.

The mill’s first phase, that includes smelting and casting units, has a nameplate capacity of 250,000 tons per year.

The Bisotoun Steel Company is set to have a Direct Reduced Iron (DRI) unit as well as a 15-megawatt power station in the near future.

The company will add 250,000 tons of steel to Iran’s annual output that increased 7.1% during the first three months of 2019, according to the World Steel Association (worldsteel).

Iranian steel mills produced a total of 6.22 million tons of crude steel during the first quarter of 2019, up 7.1% compared with the corresponding period of 2018, the report shows.

Iran is currently ranked 11th between Italy and Taiwan with 6.28 million and 5.81 million tons of crude steel production respectively.

This steel company that has been constructed with an investment of nearly $155 million (based on the official exchange rate of 42,000 rials).
Iranian steel industry created some 1,500 jobs.
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