MNA � Butia iron ore pellet production plant, a subsidiary of Butia Iranian Steel Company (BISCO), was inaugurated by First Vice President Es�haq Jahangiri on Tuesday.

Located in the city of Kerman, central Iran, the plant is slated to produce 2.5 million tons of pellets every year.

The project, which commenced in April 2015, has now been completed with a 7-trillion-rial ($166.7 million) investment, creating 300 direct and over 3,500 indirect jobs in the process.

The plant is to be supplied by the province�s affluent iron ore mines.

Kerman owns one of the world�s biggest iron ore reserves. The mineral-rich province produces over 50 million tons of iron ore, 17 million tons of pellet, and 10 million tons of steel per annum.