Tata Steel has entered into joint ventures with Iranian Mines and Mining Industries Development and Renovation Organisation (IMIDRO) for proposed steel-making projects and mining operations in Iran.The agreements were signed by IMIDRO Chairman M. Moazenzadeh and Tata Steel MD B. Muthuraman in Tehran on Sunday.According to a company statement, Tata Steel would partner IMIDRO in the ongoing Hormozgan Steel project, which would establish steel-making operations in the Persian Gulf Special Economic Zone (PGSEZ) at the port city of Bandar Abbas.IMIDRO and Tata Steel also signed a MoU expressing Tata Steel’s intent to establish a separate 3-mtpa export-oriented steel plant in two modules of 1.5 mtpa each at PGSEZ in Bandar Abbas in the vicinity of the Hormozgan steel plant.Muthuraman said, ‘‘The envisaged steel plants would emerge to be amongst the lowest cost producers of steel in the world.’’
