High potential of the Baft Steel Complex
Mehdi Jahangiri, Baft Steel Complex, highlighted the high potential of this complex during his visit. He said: “The Baft Steel Complex can become a major industrial hub in the country with development and completion.”
The Baft Steel Revival Steel Company is one of the largest units in the production of sponge iron with a capacity of over 800,000 tons per year. The company had 30% physical progress before being transferred to the private sector, while the project had progressed by 90% before being transferred to the private sector. The Baft Steel Complex was one of the 8 national steel projects in Iran, which was laid in 1993 during the eighth government. One of these projects was immediately separated from the 8 projects and transferred to the private sector. All of these projects, except for the Miyaneh Steel, were transferred with a 60% private sector and the remaining shares of the government. The Baft Steel also has the same ownership structure.
The Baft Steel Complex is the largest and only major industrial complex in the region at the level of three cities of Baft, Ravar and Arzuiyeh, which was inaugurated in 2019. This complex has an annual production capacity of 1.2 million tons of sponge iron and 2.5 million tons of pellets.
Support from the Tourism Financial Group
Mehdi Jahangiri, Baft Steel Complex, emphasized the support of the Tourism Financial Group for investment in this complex during his visit. He said: “The financial group will support the actions and activities carried out in the Baft Steel Complex.”
Proposals from the CEO of the Tourism Financial Group for the development of the Baft Steel Complex
He also made proposals for the development of the Baft Steel Complex. He asked the CEO of the company to develop a comprehensive plan to pave the way for the development and completion of this complex.
Jahangiri also asked the CEO of the Mahan Holding to emphasize the execution of projects by Iranian engineers and experts. He said: “The direct reduction industry in Iran has been indigenized and currently about 85% of projects can be implemented in Rials and we do not have to wait for foreigners.”