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|Indian TISCO, Iranian IMIDRO Agree To Construct Steel Plants|
|= A 3-Mt/a integrated steelworks and pellet plant being proposed|
Indian Tata Iron and Steel Company, Ltd. (TISCO) announced it has reached an agreement with Iranian Mines and Mining Industries Development and Renovation Organization (IMIDRO) to construct a 3 million tons per annum (Mt/a) steel plant under joint venture at the Persian Gulf Special Economic Zone (PGSEZ) at the port city of Bandar Abbas. In addition, the two companies agreed to explore and mine unexplored iron ore mines at the Gol-e-Gohar mines in Kerman province of Iran with a view to establishing a gas-based pellet plant that will use the iron ore. Of late TISCO has been keenly advancing expansion projects domestically and abroad. In the mainland India a 6-Mt/a integrated steelworks construction project is being underway.|
[Steel plant project]
The steel plant project to be jointly advanced by the two companies in Iran is located in the Persian Gulf Special Economic Zone (PGSEZ) at the port city of Bandar Abbas which faces the Strait of Hormuz lying between Gulf of Oman and Persian Gulf. As the first phase they will establish a 1.5-Mt/a steel slab making facility, followed by a 1.5 Mt/a steel billet making facility, as the second phase. The slab plant will use gas-based upstream pig iron making process. Both slab and billet products are for export.
In a separate venture, Tata Steel will partner with IMIDRO in development and mining of unexplored iron ore mines at the Gol-e-Gohar mines in Kerman province of Iran and will establish a gas-based pellet plant at Gol-e-Gohar that will use the iron ore exploited.
[TISCO to expand its domestic steel plant capacity]
TISCO is planning to construct domestically an integrated steelworks. The Company has already lodged an application for approval with the Industrial Promotion and Investment Corporation of Orissa with a view to constructing a 6-Mt/a blast furnace integrated steel plant at Duburi, Orissa State. Time of project completion is set for 2010.
Besides, TISCO has signed an MOU with the Government of Chhattisgarh on establishment of a 5-Mt/a integrated steel plant in the Bastar region of Chhattisgarh. Subject to obtaining necessary approvals, this project will spend 48 to 60 months for construction. Production capacity of 2 Mt/a is targeted as the first step. Development of captive mines is included in this Chhattisgarh project as well.
TISCO has a blast furnace integrated steel mill at Jamshedpur, Jharkand State in the eastern part of India, producing a variety of products from bar steel to steel sheets and plates. With seven blast furnaces it is producing annually 4.2 Mt of crude steel (the actual result in 2004).
The Company has been positively engaged in resources development in conjunction with steel operations. It has Khondbond iron ore mine at Jharkand State besides Noamundi and Joda mines in Orissa State.
IMIDRO, having Esfahan Steel Company under its control, is ranked world 23rd largest steel company producing 8.7 Mt of crude steel in 2004, according to the survey of IISI.
|last modified : Fri 17 Jun, 2005 [10:16]|