IMIDRO, German Firm Sign $100m Contract
EghtesadOnline: The Iranian Mines & Mining Industries Development & Renovation has signed an accord with a German company for setting up a graphite electrodes plant in Yazd Province, central Iran.
According to IMIDRO’s President Mehdi Karbasian, the $100 million contract involves the supply of a press and other machinery for a 30,000-ton/year electrode plant primarily to supply the domestic steel industry, which will be later expanded to 45,000 tons/year. “This is a belated project that was scuttled by sanctions,” Karbasian was quoted as saying by S&P Global Platts on Wednesday. “We have signed today for procurement with a German company, to start up in 1.5 years’ time.” Karbasian, who is also deputy minister of industries, mining and trade, said Iran imports some 30,000 tons/year of electrodes from China and India, but demand will grow with the country’s current steelmaking expansion.