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Outotec

Outotec

Industry: 
Mining Products
Symbol: 
OMX: OTE1V
Country: 
Finland
Contact Information: 
Sources: 

"Finland's engineering group Outotec has won an order for design and delivery of technology and services for an iron ore pelletizing plant in Iran, the company has said. Bafgh Mineral Complex Iron and Steel Industry Company in Iran's central Yazd province has awarded Outotec as part of its greenfield investment program to build a new plant to produce 5 million metric tons of iron ore pellets a year. Outotec said the parties have agreed not to disclose the contract value but such projects normally range between $87-$109 million, depending on scope and specification. The Finnish group said its work in the project includes providing the technology license, basic engineering of the pelletizing plant, detailed engineering and supply of proprietary and key equipment and automation, as well as advisory site services for installation, commissioning and start-up. The company said the new plant is expected to become operational in 2018. Platts quoted head of Outotec's Europe, Middle East and Africa region Adel Hattab as saying that the company's pelletizing technology was selected due to its strong track record in Iran. 'Our technologies are widely used in the Iranian iron ore and copper operations, as Outotec has delivered sustainable technologies to Iran since 1970s,' he said. Hattab said Outotec was currently executing several other projects in Iran." (Press TV, "Finland Firm Wins Iran Pelletizing Project", 6/6/15)

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Outotec reportedly participating in the Iran Mines & Mining Industries Summit, being held in Tehran May 31-June 1, 2015. (IMIS Website, “List of companies participating in IMIS”)

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"Deputy Ministry of Industry, Mines and Trade Mehdi Karbasian said many European companies lost the chance of cooperation with Iran in the past but now Iran's mines and mining industry enjoys a high quality of which foreign companies can take advantage. Speaking in a meeting with Thomas Schwalm, deputy of the Finnish-German Outotec Company, Karbasian said establishment of Outotec representative office in Iran will facilitate technical and economic relations of the two sides... During the meeting Thomas Schwalm announced readiness of his company to supply Iran's mines and mining industry projects with the required technology." (IRNA, "Iranian mines, mining industry suitable for foreign companies," 12/5/14) 

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"Finnish mining technology company Outotec signed a deal with Iranian Mines and Mining Industries Development and Renovation (IMIDRO) worth €9.3 million to transfer Nepheline syenite production technology. The deal was signed on Saturday and the technology will be transferred over the course of eight months, Iran's IRNA news agency reported on November 23. The industrial use of Nepheline syenite includes refractories, glass making, ceramics and, in pigments and fillers. It is also used as construction facade, interior wall texture, and countertops. The project is aimed to produce 200,000 tons of alumina powder and 150,000 tons of industrial salts per year. Iran needs around 800,000 tons of alumina powder annually." (Trend, "Iran’s IMIDRO signs €9.3M deal with Outotec," 11/23/14) 

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"Outotec has been awarded multiple orders, worth a total of Eur265 million ($326 million), for technology deliveries to National Iranian Copper Industries Co.'s copper and molybdenum projects in Iran, the Finnish engineering group said Tuesday.Outotec will deliver technology and services to NICICO's Khatoon Abad copper smelter, Miduk copper concentrator expansion, Nowchun copper and molybdenum concentrator and Sarcheshmeh copper concentrator expansion. Outotec 'makes thorough examinations and works closely with the concerned authorities to ensure that its activities and technology deliveries are compliant with the restrictive measures against Iran,' the company said. In anticipation of possible future changes in the regulatory framework, the orders will be booked in Outotec's order backlog gradually during 2012-16 according to each year's overall progress of the particular project. Around Eur58 million of these contracts will be booked in Outotec's third-quarter order intake with the revenues recognized gradually during 2012-16, the company said." (Platts, "Finland's Outotec gets orders for Iran copper/molybdenum projects," 7/10/12)

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"Outotec has been selected by Gol-E-Gohar Mining & Industrial Co. to design and provide technology for an iron ore pelletizing plant located in the Kerman province of Iran. The plant's annual capacity is approximately five million tonnes iron ore pellets. Outotec's scope of delivery includes technology for a traveling grate pelletizing plant, engineering, key process equipment and advisory services. A local contractor will be responsible for civil works and local supply. The value of equivalent deliveries for comparable plant sizes is approximately EUR 80-85 million." (Reuters, "Press Release: Outotec to deliver iron ore pelletizing technology to Gol-E-Gohar, Iran," 4/18/12)