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Ground broken for Iran's largest steel mill

TEHRAN, Sept. 3 (Mehr News Agency) - Construction operations of the country's largest steel company with an annual production capacity of one million tons of steel commenced on Tuesday in Khorramshahr, southwestern Khuzestan Province.

Talking to IRIB, the head of the province's Industries and Mines Organization said that Karun Rolling and Pipe Mill is being launched in the framework of the national plan for combination of industry and mine sectors.

Nurollah Hassanzadeh remarked that the private sector has invested 7.8 trillion rilas (some $813 million) in the project.

The mill is to be commissioned in two phases, he said, noting that the first phase of the project has been intended to produce one million ton of output per annum while the capacity could be increased to five million tons.

870 million Euro allocated to 3 petrochemical projects

TEHRAN, Sept. 3 (Mehr News Agency) - The government's Economic Commission increased the Kavian, Mahabad and Lorestan petrochemical complex projects' financial facilities in order to accelerate their implementation.

The Economic Commission approved the Lorestan governor general's office's request to increase the 3 petrochemical complexes' facilities from 500 million to 870 million out of Bank of Industry & Mine's internal fund, IRIB reported.

Due to this decision Kavian, Lorestan and Mahabad petrochemical complexes will face no financial problem anymore and will come on stream in 2011.

First Vice-President Parviz Davudi circulated the enactment on August 31.

... Payvand News - 09/04/08 ... --

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