Construction of steel production facilities get underway in Oghlid, Iran

Construction of new steel facilities formally started in the central Iranian city of Oghlid on June 20.
 
Oghlid Steel is expected to have annual capacities of 1.1 million mt of pellets, 800,000 mt of sponge iron and 1.5 million mt of steel billet, on a site covering 1,325 hectares.
 
The project is expected to be completed within the next three years and will cost an investment of about Rials 8.3 trillion (about $700 million). Around 1,200 personnel will be employed when it is put into operation.