EghtesadOnline: Azna Steel Complex is expected to be inaugurated by the end of the current fiscal year (March 2020) in the city of Azna, the capital of Azna County in Lorestan Province.
The steel production unit will have an annual production capacity of 1.2 million tons of different steel sheets, IRIB News reported.
The construction cost so far stands at 10.35 trillion rials ($75.82 million). It has made 70% progress.
A further 1.75 trillion rials ($12.82 million) are required before the complex could become operational, Financial Tribune reported.
This is the first development phase of the complex and will create around 560 direct jobs and 1,160 indirect ones.
In the second phase, 700,000 tons of slabs will be produced in the second phase that will create 600 direct jobs.