Posco and Imidro Signed MOU

Dr. Mehdi Karbasian - the head of IMIDRO and deputy minister of industries, mining and trade - announced that IMIDRO and POSCO signed two direct MOUs and this happened after long and repetitive meetings with each other.

According to me-metals on 2 May 2016, IMIDRO - Iranian Mines and Mining Industries Development and Renovation Organization - signed two MOUs with POSCO (South Korea), and one of them was about financing and cooperation in steel and its related industries common projects which is worth 1 Billion Euros.

Dr. Mehdi Karbasian expressed that Posco has invented a new method of steelmaking named "FINEX".

"The very steelmaking technology is the newest in the world rather than the other technologies and there is no need to iron ore concentrate and pellets in steelmaking processes and by using low purity iron ore and mixing coal and gas you can manufacture steel." he added.

Karbasian continued "Our second MOU was about port development which is worth 200 Million Euros in Parsian Special Zone between Posco Daewoo - subsidiary of POSCO Group - and IMIDRO". Moreover, he told that Posco is the largest Steel Holding of South Korea and one of the most important steel making companies in the world. Posco and IMIDRO agreed to provide two groups (4 members from IMIDRO and 4 members from Posco) to follow up the signed MOUs in order to consider the ways of executing of the projects in the next 14 days. Also, the above-mentioned groups will consider the new ways of cooperation between Posco and IMIDRO.

Ultimately, he announced that Posco and Iranian company signed another MOU related to steel making plant in Chabahar, Sistan and Balouchestan Province in which IMIDRO is present indirectly.