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Vai wins 2 new Steel bar and rebar rolling mills orders in Iran
2004 September 28

Contracts received from Turkey, Greece, United Arab Emirates and China 

VAI, a subsidiary company of the listed VA Technologie AG, continues their success in the sector of Long Rolling Mill Technology by receiving additional contracts, for billet caster and long rolling mill equipment from Turkey, Greece, the United Arab Emirates and China for their 100 % daughter company VAI POMINI.

The total contract value amounts to approx. 21 Million Euros.

Ege Celik, a turkey company in Izmir, Turkey ordered a new 4-strand high-performance billet caster as well as the technological upgrade of the existing 6-strand billet caster.

The Greek company Halyvourgia Thessalias will receive a controlled quenching system for the wire rod line, pinch rolls and Edenborn coilers.

Construction Material Trade, United Arab Emirates awarded a contract for Bar- and rebar rolling mills which will be built in Foulad Lorestan and Foulad Sharoud, both Iran.
For the Chinese company Shijiazhuang two 4-stand multi-groove, pre-stressed sizing units will be installed; one for the existing small products bar mill, and one for a just recently commissioned medium size bar mill to enhance product quality and product tolerances.

Start-up of the above mentioned equipment is scheduled to be in 2005.
 

Insig buying Steel melt shop equipment from VAI
2004 September 27

Insing placed an order for steel melt shop equipment to round out its complete steel production facility from VAI Fuchs. 
 

Tehran Metals Exchange completes one year of operation
2004 September 22

Tehran Metals Exchange set a record of 4,882,660 tons of metals deals at more than Rls.20.144 trillion on the first anniversary of its inauguration.

Tehran Metals Exchange (TME) Public Relations Department reported that 4,426,380 tons of metal sows and semis were on advance sale for Rls.15.096 trillion (90.6 percent of the total transactions in weight and 79.4 percent in value), while 456,260 tons of the products were on spot sale for Rls.4.147 trillion, which formed 9.3 and 20.5 percent of the exchanges in weight and value respectively in the year.

The annual trade featured sales of 4,688,000 tons of steel for Rls.16.573 trillion (up 96 percent in weight and 82 percent in value), 84,120 tons of copper for Rls.1.983 trillion (up 1.7 in weight and 9.8 in value), 107,600 tons of aluminum for Rls.1.559 trillion (up 2.2 percent in weight and 7.7 percent in value) and 2,800 tons of zinc for Rls.27.842 billion (up 0.06 percent in weight and 0.14 percent in value).

In the year, more than 6,122,000 tons of various kinds of steel, copper, aluminum and zinc were transacted in exchange for 8,232,000 tons of demand.

TME was the first such market in Iran and the first steel exchange market worldwide to open as per Article 95 of the Third Five-Year Economic Development Plan (2000-05).
 

Malaysia-Iran to sign MoU to build railway tracks
2004 September 12

Possible joint-venture infrastructure projects with Iran will be explored with the forthcoming signing of a memorandum of understanding (MoU) on the construction of 1,521km of railway tracks. 

Malaysian Works Minister Datuk Seri S. Samy Vellu will witness the signing ceremony during his week-long official visit to four countries, aimed at securing more infrastructure projects for Malaysian contractors abroad. He will also visit Senegal, France and England. 

According to a press statement yesterday, the MoU will be signed between the Construction Industry Development Board and the Iranian Road and Transportation Ministry. 

Samy Vellu, who left yesterday, is leading a 12-member delegation comprising the ministryís deputy secretary-general Datuk Syed Jamal Syed Jaafar, Public Works Department director-general Tan Sri Zaini Omar, Malaysian Highway Authority director-general Datuk George George, CIDB chief executive Datuk Hamzah Hassan and chief executive officers of construction companies. 
 

Implementation of Khuzestan steel project in full swing
2004 September 5

  The production capacity of Khuzestan Steel Company is expected to reach 2.4 million tons by the end of the Third Five-Year Economic Development Plan (March, 2005) after one of two phases of a large-scale development plan becomes operational. 

The company's deputy head for design and planning, Hamid Khabbaz said that the company intends to install a management information system that is likely to be materialized by March.

"The company's share of steel production, as stipulated in the the Third Plan, is 3.1 million tons out of the total national output of 14.7 million tons." 

He said implementation of Phase I of the project began in 1997 the aim of which is to raise production to 2.4 million tons annually, adding that "Phase II involves four schemes to be implemented under BOT and buy-back deals." 

"In addition to raw steel, the company eyes production of certain steel products with value-added in the industrial sector.
 
 

Hormozganís steel plant shapes up
2004 September 1

  Work under way for completion in 2009 

A new direct reduction steel slab plant is taking shape at Hormozgan Steel Company (Hosco) in the south. Key contracts on the estimated $600 million project are expected to be signed by the end of the Iranian year in March 2005 and be completed by 2009. Basic engineering work is already under way and is expected to be complete in early 2005.

The project will have capacity of 1.5 million tonnes a year (t/y). The client has already selected a Midrex module to be supplied by Germanyís SMS Demag and installed by the local Iran International Engineering Company (IRITEC) and Fulad Paya. Feedstock is to come from the Gol-e Gohar ore processing plant, for which a 4 million-t/y turnkey expansion project is being carried out by a consortium comprising Finlandís Outokompu, Europeís ABB Thame and Copper Investment Company and Cement Industries Company, both local. 

Hormozgan is a new company owned by Iranian Mineral Industries Development & Renovation Organisation (IMIDRO) and the project is to be carried out on a buyback basis. The product is destined for export. The offtaker will be UK-based Balli Group, which has metals interests in Iran, the UK, the US and Eastern Europe, and whose local affiliate acts as the local agent for SMS Demag (see below). The project will be financed by Fortis Bank and Bank Mellat, with credit guarantees provided by Italyís Sace. The consultant is the local Barsoo Engineering. 

Iranís steel capacity is to be further boosted by another major project at Khouzestan Steel Company, for which direct reduction and meltshop facilities are to be added, bringing capacity to 3 million t/y from 1.5 million t/y.
 
 

Iranian Steel exports up 20% this year
2004 August 31

 
 
Steel sector has focused on two priorities of expansion of production and privatization of the commodity, a member of Steel Producers Association said here Saturday.

Iran, enjoying huge iron ore reserves, ample gas resources and significant skilled manpower could plan for higher steel production, said Turabi who was speaking at a gathering of Steel Producers Association as saying.

Steel production capacity of the private sector is 10 million tons per annum, he also said. Turabi further said that the most urgent problem facing the government is unemployment, adding "steel sector should be paid more attention to as a way to reduce unemployment rate."

Iranian exports of steel is set to reach 1.8 million tons before the end of the current year (March 20, 2005) which could mean a 20 percent rise in production compared to the previous year.

The sharp increase in world steel prices provides a good opportunity for Iran to increase its exports of the product.

Head of the Mineral Development and Renovation Organization of Iran (IMIDRO), Mostafa Moazanzadeh, says exports of Iranian steel to Europe has increased "due to the high demand" for steel in European countries.

The official, however, assured that the increase in exports of steel would not cause any shortage in domestic supply. Iranís steel exports exceeded 1.6 million tons last year.
 
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