Iranian steel producer Khuzestan Steel Company (Khuzestan) has stated that its second Zamzam project for the production of sponge iron is 95 percent completed.
The Zamzam project includes the construction of a new sponge iron producing plant, with the total investment amounting to more than Rial 1 trillion (about $100 million) financed via credit.
According to a Khuzestan representative, the project has been implemented with the aim of supplying sponge iron to Iranian steel mills.
The project is expected to be completed by the end of May this year.