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Two Indian companies sign steel production agreement with Iran

Tehran, Jan 30, IRNA - Two Indian Industrial group signed agreements for production of five million tones of steel and its raw materials with Iranian counterparts.

TATA Steel industrial group and Iranian Mines and Mining industries Development and Renovation Organization (IMIDRO) agreed to produce two million tones steel in the Persian Gulf zone for mineral and metal industries in Bandar Abbas.

Managing Director of the Persian Gulf Zone for Mineral and Metal Industries, said on Tuesday that the permission for production of four million tones of steel has been issued by the Organization for Industries of Hormuzgan province.

Bahman Ayar-Rezaei added 500 hectares of land in the special zone will be allocated to the project.

Aayar-Resaei noted that TATA steel has obtained the permission for dlrs 1.408 billion investment and IMIDRO has issued the permission for supplying raw material for production of two million tones of steel.

TATA Steel is active in various industrial fields and is considered one of the major producers of Steel.

According to Ayar-Rezaei an agreement also has been signed with Indian Asapars company for production of three million tones of Bilt worth dlrs 900 million.

... Payvand News - 1/30/07 ... --

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