Eghlid Steel project, which is privately invested and supported by the government will be inaugurated in the last week of August at Southern Iranian province of Fars with an annual output of 1.5 million mt of billet.

Government has guaranteed securing raw material needs for the project including iron ore.

The USD500 million project will be be finished within 4 years creating 800 direct jobs.

Meanwhile, the government has invited investments in Fasa Steel mill project located in the same province. The mill is expected to have an annual production capacity of 1.5 million tons of billets.

Source: Metal News