Indian steelmakers to set up steel plants in Iran

Tata Steel and Essar are planning to set up two separate steel plants in southern Iran within the next four years, Iran's Deputy Minister of Industries and Mines for Economic and International Affairs said. The plant to be set up by Essar is scheduled to become operational within the next three years and is expected to produce 2 million metric tons of steel per annum in its first phase. On the other hand, Tata Steel's plant will be built in phases and will have a final capacity of about 5 million metric tons per annum.