Economy, Business And Markets

KSCO, Danieli Sign MoU

KSCO, Danieli  Sign MoU KSCO, Danieli  Sign MoU

The Italian Danieli group, which is one of the world’s largest suppliers of equipment and plants to the metal industry, is set to revamp Khorasan Steel Company’s electric arc furnace technology to boost the steel mill’s steel production capacity, Minews reported. The two companies’ representatives signed a memorandum of agreement in Khorasan Razavi Province on Wednesday. The company says the new EAF technology, which is expected to take one year to install, will also reduce the mill’s raw material and energy consumption. KSCO says its steel output has reached nominal capacity and that it is in dire need of improved technology to expand. Established in 1989 by the giant Japanese steelmaker Kobe Steel, KSCO produces 550,000 tons of rolled products, 630,000 tons of billets, 1,600 tons of sponge iron, 5.2 million tons of pellets and also 5.2 million tons of iron ore concentrate per year, according to the company’s website.