TEHRAN, July 9 (Mehr News Agency) - The private sector is preparing to build the nation's largest steel production plant in Bafq, a city in Yazd Province.
The private sector has made huge investments in the region in the areas of ore agglomeration, iron and steel ingots production as well as in the production of the sponge iron, a provincial official with the Industries and Mines Organization said.
The project is expected to produce about 1,600,000 tons of iron and steel products, 2,400,000 tons of agglomerates and 1,060,000 tons of sponge iron per annum, the Persian service of Iranian Students News Agency (ISNA) quoted him as saying on Sunday.
Machineries and equipments worth about $220 million would be imported from foreign countries and the rest is to be provided from domestic companies, he explained adding, "when operational, the giant project is expected to create job opportunities for some 3,000 people in the region."
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