Economy, Business And Markets

IRALCO Opens Billet Plant

IRALCO Opens Billet PlantIRALCO Opens Billet Plant

Iran Aluminum Company has opened a new billet production plant with a 50,000-ton/year output capacity. The plant, established in cooperation with China’s NFC Group and several local engineering partners, including Bokhara Fan Avaran Eng. Co., is equipped with two rotary furnaces capable of producing export-ready billets, IRNA reported. "It was first commissioned four years ago and built with 70 billion rials ($1.84 million) and $5 million of credit," IRALCO’s managing director, Bahman Akhavan, said. “We are now capable of earning $130 more on each ton of exported products by producing higher value-added quality goods.” IRALCO is the first producer of aluminum in Iran. Founded in Arak in 1972, the plant's ingot production stood at 135,411 tons last year.

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