Arvand Kaveh Steel’s 1st Phase to Go on Stream
Arvand Kaveh Steel Company’s first phase of production is scheduled to be inaugurated by First Vice President Esh’aq Jahangiri on Monday, the company’s managing director, Hashem Nezamabadi, announced on Sunday.
The operationalization of the plant’s first phase, established with an investment of 3.5 trillion rials ($85.3 million), will see production of 600,000 tons of rebars and wires every year. The second phase entails raising the steel output capacity to 2 million tons per year, establishing a 1.4-million-ton rolling mill and a 1.7-million-ton direct iron reduction plant, Chilan reported. Located in the southern Khuzestan Province, Arvand Kaveh Steel is a subsidiary of Kaveh Pars Mining Industries Development Company, a holding with extensive stakes in steel, cement and aluminum industries.
source: Financial Tribune
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