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Tehran Metal Exchange could be set up within 3 months
2003 January 20

An Iranian delegation, visiting the UK, completed training in preparation to establish the Tehran Metal Excange (TME).
Nasrollah Barzani, managing director of the Bank of An Iranian delegation, visiting the UK, completed training in preparation to establish the Tehran Metal Exchange (TME).
Nasrollah Barzani, managing director of the Bank of Industry and Mine Securities, and one of the 11 founders of the TME, hopes the exchange can be set up within 3 months in Tehran.
Five of its founders got management advice from the London Metal Exchange in UK.
Barzani, also member of the Tehran stock exchange, said the new exchange would start slowly with 1 or 2 metals, most likely copper and aluminium.
It is foreseen it will also be followed by steel (not covered by the UK LME).
Present pricing of metals in Iran is through the traditional bazaar system, but the government wants more transparent procedures.
It is also hoped that the TME will help with future privatization of the mines and metals industry.

Award on slab and lime-calcining plant for Hormozgan Steel Complex.
2002 November 15

The Iranian Hormozgan Steel Complex has awarded the second part of its steel project,- the construction of a 1.5 million tons per year slab and lime-calcining plant, in Bandar Abbas -, to a consortium consisting of SMS Demag (Germany), Iran International Engineering Company and its Italian subsidiary Irasco.
The contract, estimated to have a value around 340 million US$, is planned to be signed before the end of the month.
A consortium led by the Belgium branch of Fortis Bank is having negotiations with state-owned National Iranian Steel Company on providing financing for this, as well as the first awarded package of this project.

Mehran Motor buys angles and rails line from INI - Korea
2002 September 17

Mehran Motor bought a 300.000 T/year Steel Mini-Mill, producing angles and light rails, from the South Korean INI - Steel.
This line was purchased at a price of about US$400,000 and will be installed in Iran.
The factory was started in Korea in 1959, but stopped by INI in December 2001, to reduce over capacity.

Mehran Motor, an engine oil producer, is part of the Iranian Bahman Group,.

The Iranian Bahman Group is active in auto manufacturing and sales and already produces 15.000 T/ year of steel castings for automotive and industrial applications, in their subsidiary Casting Industries.

German MME wins first package for Iranian Hormozgan Plant
2002 September 6

  Iranian Hormozgan Steel selected German MME (Mines & Metals Engineering), for the first package on the construction of it's integrated steel plant, in Bandar Abbas.
The award, estimated at about 140 million US$, involves the construction of a 1.600.000 tonnes/year DRI facility.

MME’s won the contract against
- German Ferrostaal with local partner IPD
- Italian Danieli with local partner Namvaran.
- a venture of Iran International Engineering Company (IRITEC) and its Italian-registered Irasco.

MME will need to buy 53 % of the equipment and services locally in Iran.

On 1 Sept 2002, 3 companies gave also revised proposals for the 2e package: a 1.500.000 tonnes/year slab and lime-calcining plant.
Bidders were
-Argentina’s Techint, with Iranian Industrial Development & Renovation Organization
-Italian Danieli/Namvaran,
-German SMS Demag with Irasco and IRITEC.
Bids will be evaluated during the coming 2 months.

Iran Sadid plans new pipe mill
2002 August 8

  Iran's Sadid plans to build a ultra modern welded pipe production facility with a capacity of about 330KT in Khouzestan.
This factory will be supplied by SMS and should be operative by end 2003

It will be able to produce SAW pipes up to API 5L X70, with diameters from 600mm to 1400mm, wall thickness of 35mm max, and lengths of 12m max.

The mill, to be supplied by SMS Germany, will produce longitudinal SAW (submerged arc welded) pipes.
Production range will be for diameter 610-1422mm, wall thick up to 35.5mm, and lengths of up to 12.2m.
Sadid will produce pipes in grades up to X70, meeting the API 5L standard.
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