Iranian President inaugurates 550,000-ton sponge iron production unit

While opening the first direct reduced iron (DRI) module of Iranian steelmaker Khorasan Steel, the president also inaugurated executive operations for No. 2 steel production mill of the facility, and also steelmaker Khorasan Steel’s exclusive railway station and network and its connection to the nationwide railway network.

The facility will run with annual capacity to produce 550,000 tons of light steel junctions, and variety of 10- to 45-millimeter indent and unindent rods.

The unit has come on stream at the cost of 1.97 trillion rials (Some ?134.5 million), of which ?65 million has been paid in foreign exchange.

The unit aims at producing 800,000 tons of sponge iron annually.

Some 800 jobs will be created directly and 8,000 jobs indirectly by implementing the project.

European states and China have manufactured the plant’s machinery.

/IRNA/