Iran's largest billet producer Khuzestan Steel Co. will put its new direct reduced iron plant into operation within the next few months. The new plant has a planned annual capacity of one million mt and is already is in the final stages of construction. Taking into account Khuzestan Steel's other current development projects, by the end of the current year the steelmaker will have reached a total annual capacity of 3.2 million mt.
The main supplier of equipment to Khuzestan Steel's new DRI module is Mines and Metal Technological Engineering (MMTE), an Iranian company which possesses a Midrex license. In addition, some of advanced equipment has been bought from European suppliers.
As recently reported by SteelOrbis, on Saturday, June 28, a 30.5 percent stake in Khuzestan Steel was successfully sold to a private investor through the Tehran Stock Exchange for a total consideration of $1.458 million. Currently, Khuzestan Steel ranks as the second largest steel producer in Iran, producing various types of steel products, including ingots, billets, slabs and blooms.