Danieli in 5.7bn EUR JV

On the occasion of the visit to Italy of President Hassan Rouhani, the Danieli Group signed agreements worth approximately 5.7 billion euro.

The agreements signed in Rome by the Chairman and CEO of the Danieli Group, Mr. Gianpietro Benedetti, refer to a joint venture and orders for the supply of machinery and plants to be installed in the territory of Iran.

The joint venture named Persian Metallics of an estimated worth of 2 billion euro will involve a group of international, as well as Iranian, investors.

Persian Metallics will use iron ore and energy to produce about 6 million tpy of pellets intended for feeding direct reduction plants whose product is an excellent raw material to produce steel through melting by electric arc furnace, which is the most environmentally friendly and often more competitive way to make steel today.

Other agreements relating to the supply of machines and plants to produce steel and aluminium will be signed with several Iranian companies for a value of around 3.7 billion euro.

(Source: Danieli)

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