Oberbank, one of Austria’s biggest banks, has allocated a €1 billion ($910 million) line of credit to finance investment projects in Iran, Austria’s finance minister announced in a meeting with his Iranian counterpart in Tehran on Sunday. “Negotiations between the two countries’ central banks have also been finalized while there are a number of Austrian […]

Iran Aluminum Company has opened a new billet production plant with a 50,000-ton/year output capacity. The plant, established in cooperation with China’s NFC Group and several local engineering partners, including Bokhara Fan Avaran Eng. Co., is equipped with two rotary furnaces capable of producing export-ready billets, IRNA reported. “It was first commissioned four years ago […]

Iron ore exports from Iran are now declining, as the volume in April reached 10.46 million tons, which is down by 6% compared to the same period of Iranian. The month-on-month data also declined by about 147%, India-based news, data and trading portal on global scrap commodities market Scrapregister.com reported. Iran achieved a sharp growth […]

Planning Big for Iranian Steel; Targeted 55 Million Tons Steel Production

Allah says in the Holy Quran: “The month of Ramadan in which was revealed the Quran, a guidance for mankind and clear proofs of the guidance and the criterion (between right and wrong)” (The Heifer, verse 185) May this Ramadan bring joy, health and wealth To all of our Muslim colleagues, friends and the families […]

By possessing 2.7 billion tons of proven iron ore reserves containing 1.5 billion tons of iron and estimated total reserves of 4.5 billion tons, Iran is standing in the 10th rank of world ranking table of iron ore reserve holders. Steel making business in Iran can enjoy amazing advantages of large domestic market, low energy […]