Indian Pellets Headed for Iran
Economy, Domestic Economy

Indian Pellets Headed for Iran

Flagging off the first pellet shipment of 66,700 tons to Iran in New Mangalore Port on Saturday, chairman and managing director of the Kudremukh Iron Ore Company Limited (KIOCL) said “it is a momentous day for us”. After completing the loading of pellets, the cargo vessel M V Aries will set sail on Monday and is likely to reach Iran on January 8, the Indian daily New Indian Express reported. Earlier, speaking to reporters at the plant at Panambur, Chatterjee hoped that the first shipment would pave the way for a long-term engagement with Iranian steel mills. Following a slump in steel prices and ban on iron ore export, KIOCL was looking at the means to meet overhead expenses of its “debt-free” 3.5 million tons per annum pellet plant in Panambur.  Aware of the huge gap between demand and supply of iron ore pellets in Iran (20 million ton of pellets), KIOCL decided to buy iron ore from Brazil and convert it into pellets (with an FE content of over 66%).

Short URL : http://goo.gl/MQIpcs
  1. http://goo.gl/Qm7wKK
  • http://goo.gl/aKP2bW
  • http://goo.gl/XLf7L3
  • http://goo.gl/fTRwuE
  • http://goo.gl/cMFQeq

You can also read ...

Iran Missing Advantages of Foreign Banks’ Presence
Tehran Chamber of Commerce, Industries, Mines and Agriculture...
Oman Eyes Iran Market Amid Rising Imports
Ithraa, Oman’s inward investment and export promotion agency,...
Luxgen’s S3 is a 5-seater subcompact sedan equipped with a 1.6-liter, 116 hp gasoline engine.
Local company Arman Motor Kavir is set to unveil two imported...
Iran Exim Bank Tapping NDFI Resources
Export Development Bank of Iran–the country's exim bank–is to...
Billet and bloom shipments made up the bulk of exports, reaching 1.78 million tons, up 28% year-on-year.
Iran’s semi-finished steel exports during the first seven...
Transport MoU With South Korea
Iran and South Korea have signed a memorandum of understanding...
Local producers have often called  on the government to increase import tariffs on tires.
In order to “protect domestic production”, the Industries...
IRIB Mulls Issuing Bonds
The Islamic Republic of Iran Broadcasting is considering...