IRON and STEEL
Austria says it has allocated a credit line of €1 billion for a major steel production project in southern Iran.The announcement was made by the visiting Austrian Finance Minister, Hans Jörg Schelling, during a visit to Tehran.
Schelling was quoted by Iran’s IRNA news agency as telling his Iranian counterpart,Ali Tayyebniya, that the credit line was meant to help the expansion of relations between the two countries.
IRNA further quoted him as saying that Austria’s banks were eager to promote ties with Iran’s banks.For his part, Tayyebniya called on the Austria government to do more to help expand economic relations with Iran.
He emphasized that fighting money-laundering – as well as funds with suspicious origins – were central themes in the plans of Iran’s banking system.
Austria’s steel production investment plan in Iran involves the establishment of a plant with a capacity of 2.4mt per year in Gol-e-Gohar in Iran’s southern province of Kerman.To the same effect, Austria’s Voest Alpine has reportedly signed an agreement to team up with Iranian partners to establish a steel production plant in Gol-e-Gohar.
On a separate front, Iran’s Minister of Industry, Mine, and Trade, Mohammad-Reza Ne’matzadeh, told Schelling in a separate meeting that Iran expected Austria to adopt more hostile plans to expand trade relations between the two countries.
Ne’matzadeh emphasized that banking restrictions were the most important barriers that were obstructing the expansion of Iran-Austria relations.
The Iranian official further said companies from Iran and Austria were working over the production of low-consumption motors for automobiles.He expressed hope that an agreement that the relevant parties had signed over this last year would lead to industrial production by 2020.
Primetals Technologies has received an order from Indian steel producer JSW Steel to supply a Meros (Maximized Emission Reduction Of Sintering) off-gas cleaning system with WGR (Waste Gas Recirculation System) for its existing sinter plant No.4 at the Vijayanagar works in Karnataka State, India.
In April, Primetals Technologies received the Final Acceptance Certificates (FAC) for two two-strand continuous slab casters from Chinese steel producer, Shandong Iron & Steel Group Rizhao Co. Ltd.
At the Chinese steel producer Rizhao Steel Co., Ltd. (Rizhao Steel), the fourth Arvedi ESP (Endless Strip Production) plant supplied by Primetals Technologies was started up in April 2018.
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Mineral production of most major Iranian mining companies increased during the last Iranian year (March 21, 2017_March20,2018).