Global industrial giant Mittal Steel on Tuesday signed a contract worth €1 billion to produce iron in southern Iran.
The contract that has been signed with Mahan Industries and Mines Development Company — a subsidiary of Iran’s Tourism Financial Group — envisages extracting iron and the establishment of a processing plant in the country’s southern province of Kerman, Press TV reported.
Mahan has not specified which iron mine will be the subject of the deal with Mittal but it owns a major mine near Sirjan which is considered to be one of the largest in the country with a reservoir of about 1.2 billion tons. The company last year won a deal to extract 24 million tons of iron from the same mine for 14 years.
Mahan has not specified which iron mine will be the subject of the deal with Mittal but it owns a major mine near Sirjan which is considered to be one of the largest in the country with a reservoir of about 1.2 billion tons. The company last year won a deal to extract 24 million tons of iron from the same mine for 14 years.
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