Economy, Business And Markets

Steel Plates for Oil, Cement Industries

Steel Plates for Oil,  Cement IndustriesSteel Plates for Oil,  Cement Industries

Khuzestan Oxin Steel Company, located in the southwestern city of Ahwaz, unveiled its new steel plates during a ceremony attended by the head of the Civil Servants Pension Organization (CSPO), IRNA reported on Tuesday.

The new plates, known as A537CL2, were ordered by the Iranian Oil Terminals Company (IOTC) to be used in oil storage tanks.

The plates are used in oil tanks and pressure vessels, the thickness of which ranges from 10 to 120 millimeters, while the widths are between 1,100 and 4,500 millimeters, said Mohammad Hizom, the company's metallurgical unit manager.

Oxin Company, one of the subsidiaries of the CSPO and the first producer of heavy and wide heat-treated plates in the Middle East, says the plates were formerly imported from Europe and East Asia and that the entire production process has been designed and implemented by the company.

Another new product by the company, hard oxin, is an abrasion resistant steel plate used in cement and steel industries. Hard oxin has been produced for the first time in the country while the abrasion resistant plates were imported from Sweden before.

The country's steel sector is preparing for post-sanctions era and new export markets can be seized in the near future, said Akbar Mohaqeqi, the CSPO managing director. He added that the steel industry in Iran is now capable of producing different structural and industrial steel as well as wide steel plates.

According to Mohaqeqi, CSPO is planning to invest €670 million in steel and petrochemical industries in Khuzestan Province and Asaluyeh in Bushehr Province.

According to the CSPO head, as the financier for industrial projects, €350 million will be invested in steel projects, while €320 million will be funded for the second phase of Jam Petrochemical Complex.