Primetals, Iran to Collaborate on Nearly EUR2 Billion in New Steel Projects
04/01/2016 - Primetals Technologies and Iran’s Fakoor Sanat Teheran Engineering Co. have signed an agreement to collaborate on a variety of steel-related projects estimated to be worth more than EUR1.8 billion, the company has announced.
"The agreement … with our Iranian partners is an important milestone on the path to enhancing the position of Primetals Technologies as the leading technology supplier to the steel industry worldwide. Iran is a country with great potential for the future, and the domestic steel industry plays a lead role in the development of this potential," said Primetals chief executive Yasukuni Yamasaki in a statement.
Primetals said the agreement, which was signed during an Austrian-Iranian business forum in Vienna, is likely to be expanded to include additional projects.
Yamasaki said the agreement comes as the Iranian government plans to double its production capacity over the next 10 years.
“Iran will be offering good business opportunities in the medium term. The country is one of the world's 15 biggest steel producers, and has large deposits of iron ore and energy resources. The economic development of the country suggests that demand for steel will increase in many sectors, especially in infrastructure and the oil and gas industries.”
Primetals said the agreement, which was signed during an Austrian-Iranian business forum in Vienna, is likely to be expanded to include additional projects.
Yamasaki said the agreement comes as the Iranian government plans to double its production capacity over the next 10 years.
“Iran will be offering good business opportunities in the medium term. The country is one of the world's 15 biggest steel producers, and has large deposits of iron ore and energy resources. The economic development of the country suggests that demand for steel will increase in many sectors, especially in infrastructure and the oil and gas industries.”
