Volume. 11990

China’s MCC to invest $347m in Iranian steel project
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c_330_235_16777215_0___images_stories_edim_04_ma1(14).jpgTEHRAN - China’s Metallurgical Group Corporation (MCC) will invest $347 million to build a steel plant with an annual production capacity of one million tons in Iran’s southwestern province of Chaharmahal-Bakhtiari.
The Sepid Dasht steel plant project will create about 1,000 direct jobs and 10,000 indirect jobs, the IRNA news agency reported on Tuesday.
The deal was signed in Tehran by National Iranian Steel Company Managing Director
Mohammad Khandadash-Pour and MCC Director for International Affairs Zuo Yuman, the IRNA news agency reported on Tuesday.
MCC has announced that it is ready to invest €1.8 billion in seven steel projects in Iran, according to Iranian Mines and Mining Industries Development and Renovation Organization Director Mehdi Karbasian. 
Iran was the biggest producer of crude steel in the Middle East in 2013, according to a press released by the World Steel Association.
Iran produced 15.4 million tons of crude steel in 2013, a 6.6 percent rise compared to 2012.
Iran’s crude steel production reached 14.89 million tons in the previous Iranian calendar year, which ended on March 20.

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