Following the lifting of sanctions on Iran, the Italian Danieli Group has signed agreements worth approximately 5.7 billion Euros.

The agreements, signed in Rome by the company’s chairman and CEO, Gianpietro Benedetti, relate to a joint venture and orders for the supply of machinery and plants to be installed in Iran.

“Persian Metallics” is the name of a joint venture worth an estimated 2 billion Euros, which will involve a group of international and Iranian investors.

The Persian Metallics project will use iron ore and energy to produce around 6Mt/yr of pellets to feed direct reduced iron (DRI) for steelmaking using electric arc furnaces – the most environmentally friendly and often more competitive way to make steel today.

Other agreements relating to the supply of machines and plants to produce steel and aluminium will be signed with several Iranian companies and worth an estimated 3.7 billion Euros.

Danieli’s plant-making division, based in Buttrio, employs 10,000 people and consists of various product lines active in the design, construction and start-up of plants for the production of steel and non-ferrous metals, from the treatment of ore and scrap to the melting, casting, rolling and finishing of a wide variety of finished, flat, long, forged and tubular products.