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Tata Steel signs pact for projects in Iran

Staff Correspondent

MUMBAI: Tata Steel signed on Sunday a Joint Venture Agreement (JVA) with the Iranian Mines and Mining Industries Development and Renovation Organisation (IMIDRO).

It will partner IMIDRO in establishing a 1.5 million tonne per annum (tpa) steel slab making facility, a 1.5 million tpa steel billet-making unit, a separate 3 million tpa export-oriented steel plant and in exploration and mining of unexplored iron ore mines.

As per the JVA, it will also take part in the ongoing Hormozgan Steel project, which would establish steel-making operations in the Persian Gulf Special Economic Zone (PGSEZ) at the port city of Bandar Abbas. The first phase of this gas-based steel project would establish a 1.5 million tpa steel slab making facility, which would be followed by the second phase to establish a 1.5 million tpa of steel billet making capacity.

Tata Steel would partner IMIDRO in exploration and mining of unexplored mines at the Gol-e-Gohar mines in the Kerman province of Iran and establish a gas-based pellet plant at Gol-e-Gohar using this iron ore.

B. Muthuraman, Managing Director, Tata Steel, said: "owing to favourable factors in terms of production, the steel plants would be amongst the cheapest producers of steel in the world."

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Tata Steel signs pact for projects in Iran

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