(Minews) - South Korea-based Pohang Iron and Steel Company (Posco) is set to use Finex, its new steel-making technology, in projects in Iran, according to a report.
The company had launched two large plant last year - a two million-tonne plant and a 1.5 million-tonne plant, Mehdi Krbasian, managing director of Iraninan Mines and Mining Industries Development and Renovation Organisation (Imidro) and Jin Sik Choi, deputy head of Poso, were quoted as saying in the Iran Daily report.
Imidro intends to launch new steel projects in the southern ports of Chabahar, Bandar Abbas and Asalouyeh in co-operation with the private sector, said Krbasian.
Finex is an iron-making technology developed by Siemens VAI and Posco, where molten iron is produced directly using iron ore fines and non-coking coal rather than traditional blast furnace methods, said the report.
The elimination of preliminary processing is claimed to make the plant using Finex less expensive to build than a blast furnace of the same scale, it said.
About 10 to 15 per cent reduction in production costs is expected through cheaper raw materials, reduction of facility cost, maintenance staff and production time, it added.
