Opening of Bafaq Steel Complex with the participation of Bank Mellat and with the presence of the President

According to the financial news report, quoted by the public relations of Bank Mellat, the Bafaq steel complex, which had suffered a severe recession for several years and was closed after securing the necessary credits and granting foreign currency and Rial facilities from Bank Mellat, during the second visit of the president to Yazd province. It was opened and returned to the production cycle.

Reza Dolatabadi, the CEO of Bank Mellat, on the sidelines of the operation ceremony of this complex, referring to the bank’s policy of supporting manufacturing companies and helping to boost production and employment in the country, expressed hope that the start of the work of this complex would be able to contribute to the growth and The economic development of Yazd province plays a significant role.

He added: Bank Mellat has taken several measures to support the production sector, especially Pishran projects, and support and participation in the restart of Bafaq Steel Complex is one of these measures.

Based on this, the sponge iron unit of Bafaq Steel Complex with a capacity of 800,000 tons per year is located in the vicinity of Chagharat iron ore mine and Se Chahoun pellet mill, which in addition to direct employment for 300 people and indirect employment for more than 1,500 people and creating value The addition of mineral raw materials will make a significant contribution to the development and elimination of deprivation in the region.

This report indicates that the plan to increase the production capacity of sponge iron up to 2.5 million tons as well as the project to build a pellet factory is on the agenda of this complex.

Also, the “Coil” production line of Bafaq Steel Complex with a production capacity of 550,000 tons per year including the production of all kinds of industrial and construction coils has been launched, which has directly created jobs for 100 people.