FNA reported that Iranian and Italian companies have agreed on the construction of a steel mill with the annual production capacity of 1 million ton in the Southeastern city of Sirjan.

The agreement was reached between the MMTE Engineering and Construction Company and the Italian Tenoa Company, Managing-Director of the Iranian Mines and Mining Industries Development and Renovation Organization Mehdi Karbasiyan said.

Mr Karbasiyan stressed that the Sirjan steel plant will be inaugurated by March 2015, and said that “About 500 people are currently working in the factory and after the inauguration of its steel manufacturing section more than 1,500 new job opportunities will be created.”

MMTE Engineering and Construction Company is one of the first Iranian engineering, procurement and construction contractors in the steel industry specializing in management, engineering, procurement and construction of direct reduction, pelletizing and steel making plants.