TEHRAN (Tasnim) An Iranian private firm and Italys Tenova Steel Company signed a contract for joint establishment of a steel mill capable of producing one million tons of steel bars annually.The contract was signed by Irans Mammoth Energy Group Corp (MMTE) and Italys Tenova Steel in the presence of the head of board of directors of the Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) for construction of the still plant in Kerman provinces Sirjan city.
The MMTE is the director of the project, according to the terms of the contract, whose value is 3,000 billion Iranian rials ( roughly $100 million) and 79 million euros, and is scheduled to be operational in 36 months.
Deputy Industries and Mines Minister Mahdi Karbasian said that the new administration wants to make sure the approved projects would likely be carried out, unlike numerous past projects that have never got off the ground.
Tenova Companys representative, Enrico Garzone, referred to that companys thirty-year record of offering services in Iran, saying that presently Tenova is modernizing eight steel melting furnaces of Mobarakeh Steel Plant.
Garzone also expressed hope that after completion of those steel projects, Iran-Italy industrial cooperation would further expand.
Tenova offers a fully integrated range of high quality products, technologies and services for the steel making route, from iron and ferroalloy ores and scrap up to liquid steel.
Tenova is strongly focused towards the global market combining process automation and metallurgical know-how to enhance the value delivered to the customer, according to the Italian firms website.
By Tasnim News Agency
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