Steel production plant to go on stream in Golestan

Gorgon, Nov 18, IRNA - A steel production plant will be established in Golestan province said the head of Industries, Mines and Trade Organization of the province on Monday. Hosseinqoli Qovanlou added that both the public and private sectors along with Kazakhstan are cooperating and investing in the establishment of the plant. The steel production plant, which will have an annual capacity of 5m tons, will be built in Atrak Special Economic Zone in the east of the province. Construction of the first phase of the plant — with a capacity of 2m tons per year — will start by the end of the current Iranian year (March 20, 2015),” he said. Pointing to the 20-percent share of Iranian steel industries in setting up the plant, Qovanlou said 51 percent of the project funds will be provided by the private sector and 29 percent by Kazakhstan. Qovanlou expressed his belief that Golestan province will witness a remarkable economic leap when the plant goes on stream./end