Economy, Business And Markets

IMIDRO, German Firm Sign $100m Contract

IMIDRO, German Firm Sign $100m Contract IMIDRO, German Firm Sign $100m Contract

The Iranian Mines & Mining Industries Development & Renovation has signed an accord with a German company for setting up a graphite electrodes plant in Yazd Province, central Iran. According to IMIDRO’s President Mehdi Karbasian, the $100 million contract involves the supply of a press and other machinery for a 30,000-ton/year electrode plant primarily to supply the domestic steel industry, which will be later expanded to 45,000 tons/year.  “This is a belated project that was scuttled by sanctions,” Karbasian was quoted as saying by S&P Global Platts on Wednesday.  “We have signed today for procurement with a German company, to start up in 1.5 years’ time.”  Karbasian, who is also deputy minister of industries, mining and trade, said Iran imports some 30,000 tons/year of electrodes from China and India, but demand will grow with the country’s current steelmaking expansion.


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